Company Information
Managing an international insurance programme is complex. Multinational insurers must understand the exposures faced by their customers around the globe, and issue policies that offer certainty of coverage and are in full compliance with local regulations. Close attention must also be paid to the management of cash and the claims handling process.
With so many moving parts, building a cohesive and successful international programme often requires a custom-made structure, but this can create challenges for insurers when it comes to making a consistent and efficient process involving multiple parties all over the world. This in turn can cause customer service to crumble. Sure enough, global companies are generally dissatisfied with the servicing of their international programmes — ranging from levels of efficiency, communication and transparency that constitute the customer experience.
Swiss Re Corporate Solutions' International Programmes Administration Platform (IPA) is a comprehensive resource providing coverage and compliance information about customers' international programmes. We've brought together a variety of data from our own local experts and systems, augmented with intelligence we gather from trusted external resources. Our goal is to provide customers with fast, easy, accurate overviews. We've made it our mission to provide easy-to-use reports that compile the latest data that will help determine the best coverage solutions.
The international programme solutions that can be found in the market have considerable pain points. We made a conscious decision not to utilize existing platforms. We designed a new platform that removes friction from the flow of information both internally and externally. We are investing significantly in developing wording for locally placed policies that are better than the local standard and more closely mirror language in the master policy. Based on our holistic approach we did not have any legacy system when entering a new market. Instead had the flexibility to design something new.
Swiss Re Corporate Solutions’ platform acts as a “knowledge database” where disparate data sources are brought together in one system, including licensing, compliance and tax information, as well as the client’s exposure and loss history. Having all the data living in one place makes it easier for underwriters to provide quotes.
A unified platform brings a level of transparency. If a company wants to know the status of their policy application in Malaysia, track their claim payment in France, and view risk mitigation recommendations for a facility in Italy, they can view all updates and relevant information in one place and in real time. They can also assess risks of individual locations or entire portfolios worldwide courtesy of Swiss Re’s proprietary tool, CatNet®.
Contact Information
Ian Long | Digital Transformation Leader | Ian1_Long@swissre.com
Caroline Pritchard | Head Distribution Management UK | Caroline_Pritchard@swissre.com
Marc Wekkeli | Senior Property Product Underwriting Expert | Marc_Wekkeli@swissre.com
