Reinsurance News

Swiss Re CorSo launches globally standardised property policy

21st November 2019 - Author: Luke Gallin

Swiss Re Corporate Solutions (Swiss Re CorSo), the commercial insurance arm of reinsurer Swiss Re, has announced the launch of ONE Form, a tool designed to increase efficiency and quality in international programme delivery.

The ONE Form tool serves to improve the customer experience for International Programme and Property clients and brokers, through the creation of globally standardised master and local policies.

Swiss Re Corporate Solutions explains that both property customers and brokers stand to benefit from increased policy accuracy, improved contract certainty and also faster policy issuance.

The standardised policy wording facilitated by the use of the ONE Form enables the closest possible alignment of master and local policies, while at the same time respecting local requirements and expectations. Furthermore, the new tool also facilitates both tax and legal compliance globally.

The reinsurer states that ONE Form is embedded in Swiss Re Corporate Solutions’ IT systems that it uses to manage international programmes, resulting in automated master and local policy issuance.

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Martin Hegelbach, Head Property & Specialty at Swiss Re Corporate Solutions, commented: “ONE Form offers our customers a broad, state-of-the-art property coverage following an all risks approach. Nevertheless, master and local policies are designed modularly and, therefore, can be tailored to meet customers’ coverage and limits needs.

“As an added benefit, International Programme customers who use ONE Form can monitor their flood exposures via our online client portal, PULSE.”

ONE Form is available for accounts incepting from the 1st of January, 2020 and is currently being offered in six countries as a master policy wording, ten countries as a local policy wording and in two languages, English and Italian. Swiss Re explains that soon it will be introduced to five more countries as a master and in 11 more as a local policy wording, and in six more languages: French, German, Japanese, Mandarin, Portuguese, and Spanish.

ONE Form highlights our ambition to use technology to make international programme delivery faster and more efficient. Customers and brokers using ONE Form can better manage their international insurance programmes and have a positive service experience,” said Andreas Berger, Chief Executive Officer (CEO) of Swiss Re Corporate Solutions.

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