The US reinsurance arm of specialist broker BMS has selected Relay’s F1 electronic placement system to support its push for further growth across the sector.
The broker portal combines a range of features designed to increase the ease of doing business, facilitate and integrate quotes from all reinsurers, and reduce the time it takes to market a placement and update clients.
BMS Re has since configured its environment to create consistent submission packages, automate document generation and streamline market access.
As part of Relay’s reinsurance broker enablement strategy, the platform allows BMS Re to visually structure placements, identify and approach the most relevant markets, and iteratively automate subsequent steps to increase close rates.
“We are thrilled to announce our partnership with Relay,” said Pete Chandler, President and CEO, BMS Re US.
“The timing couldn’t be better following the results of our market survey which showed that a third of respondents had yet to decide upon an e-trading strategy.”
“Relay’s next-generation placement interface and analytics, dynamic quote comparison and management dashboard will offer BMS Re access to consistent submission packages, improved reinsurer connectivity and data capture efficiencies,” added Relay CEO Greg Boutin.
“Relay is primed to tech-enable the modern broker, cedent and reinsurer through APIs while still catering to all traditional methods of business.”