Relay launches the first-ever Multi-Line, Multi-Layer Risk Visualization and Placement module. We call it Multi-Tower Risk Placement™
It’s 2021, yet brokers still break their backs (and wrists) structuring “towers” or “mud maps” in spreadsheets and slideshows, chasing dozens of quotes, and manually iterating on error-prone tables and old-school visuals.
Management should care, because fixing this issue directly increases staff retention, productivity, and renewal rates on large and medium placements, with the potential to now slice smaller placements profitably too.
Relay continues to focus on helping brokers and their ecosystem complete tasks many still strangely consider unworthy of digital transformation efforts. There is too much emphasis in reinsurance and insurance on shiny-object, PhD-sounding, yet often tone-deaf innovations that may look futuristic but fail to achieve real-world user adoption or even work in today’s shifting landscape.
We take a different approach and aim to keep it simple: in a tightening market, we now make it a snap to split capacity across reinsurers or carriers for commercial insurance placements. If you deal with multiline, layered placements, you are in for a treat.
Relay’s new Multi-Tower Risk Placement™ allows brokers to visualize all the risk for all coverages in one place, dynamically slice them into layers, and what’s more important and innovative, actually place each layer though either email, instant quoting, or a mix of both – all in one digital system with traceability and data export abilities.
Multi-Tower Risk Placement addresses the age-old inconvenience of managing complex risks. Existing systems for binding insurance or reinsurance handle placements in a siloed approach, making it exponentially harder to source capacity, get the best price, and keep clients updated. That manual approach does not scale and drains any modern broker’s energy level – and performance.
Multi-Tower Risk Placement is an evolution of our Facultative Reinsurance F1 solution, and we are introducing the functionality to our commercial insurance placement portal Relay I5 shortly. It will be especially useful in Commercial Property, Financial Lines, Marine/Cargo, General Liability and Commercial Auto in particular, but it works across Commercial Lines and for smaller placements as well.
Contact us at [email protected] to book your demo today.