Insurtech start-up Marrikel has launched its web-based reinsurance placement platform and signed its first broker licensee.
Marrikel was founded by Frederik Eloff and James Karim in 2018 with an aim of increasing the efficiency and transparency of reinsurance transactions.
The new platform enables brokers to manage the entire reinsurance transaction-flow, integrating multiple concurrent placement strands from marketing through to digital execution.
Placements can include the most complex auctions, as well as firm-order-terms, private deals and indicative bidding.
Auctions can be tailored to buyers’ requirements, with customisable constraints and verticalized or Dutch placement options.
“We are delighted to be launching our platform,” said Eloff.
“We enable brokers of all sizes to efficiently manage the most complex transactions, while enabling real-time collaboration within teams and across businesses.”
Other highlights include fine-grained access control, NDA workflow, integrated data rooms, entity management and “offline” quoting.
The platform captures and fully audits the placement process and related workflow, while broker workflow is managed across transactions within team structures.
A dashboard summarises the status of all placements and enables entire portfolios to be managed on a single screen.
“We are looking forward to working with our first licensee and other brokers to deliver the highest level of service to their clients,” Karim added.
“Marrikel frees brokers up to focus on their advisory relationships, where they add greatest value.”