Appetite Matching
Lee Timms
Head of Platform Integrations
Appetite Matching
This Solution matches underwriting appetite with specific risks in real time. It harnesses the combined power of our rules and rating engine, Rulebook, and our digital placing platform, Whitespace, to streamline digital trading.
How it works
- Appetite Matching automatically guides brokers on the available capacity for a particular risk at key points, for example at confirmation of lead terms at firm order or manually from within Whitespace.
- Underwriters configure logic that suggests a line size based on key data such as class of business, risk location, limits and premium.
- Brokers can select to receive messages from all markets or selected markets.
- The appetite matching service then marries up between the two.
- This can be used by Brokers to highlight the capacity available on facilities.
Benefits to you
- Improved trading efficiency: carriers can inform brokers at a much earlier stage in the trading cycle, whether or not a risk is within Appetite, saving time for all parties.
- Better distribution: improved appetite in front of brokers means carriers can submit risks more often than they may have, previously.
- New capacity can enter the space: brokers can consider carriers they may not have previously, due to the advanced understanding of carrier appetite for “in-scope” risks.
- Improved underwriting results: carriers can have informed discussions with brokers about improving submission pipelining, ensuring portfolio solution-based capacity isn’t being “anti-selected” against.
- Product and placement innovation: carriers can better manage Indexation when negotiating broker quotashare agreements or establishing treaty arrangements with dedicated capacity for a broker, or set of brokers.
- Enhanced data insights: Capital providers can better navigate portfolio solutions and facility renewal discussions.
Insights
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Products used in this solution
Rulebook: Pricing, underwriting and distribution, for even the most complex classes of business.
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Whitespace Platform: Data first, digital trading platform for insurance and reinsurance business will full API connectivity.
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