Lockton launches automated reinsurance quoting system
- November 13, 2024
- Posted by: Web workers
- Category: Finance
Lockton Re, the reinsurance business of Lockton Cos. LLC, said Wednesday it has partnered with Bermuda-based Nephila Holdings Ltd. to launch Lockton Re SageLink Automated Placement Solutions, an automated reinsurance quoting system.
Both Lockton Re and Nephila use proprietary application programming interfaces on the system to allow Lockton Re to submit applications and receive quotes, Claude Yoder, global head of analytics at Lockton Re, said in a statement.
The system can shorten timeframes associated with the reinsurance broking process and help improve reinsurer underwriting workflow management, Lockton said.
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