A global reinsurance and broker connectivity platform offering comprehensive transaction management, including placement, accounting, claims, and settlement. Features include standardized messaging formats, automated workflow, document management, and real-time data exchange capabilities.
Systems that facilitate electronic data exchange with reinsurance brokers and markets, streamlining placement activities and claims notifications.
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Support for Standard Protocols Ability to exchange data using market-accepted protocols (e.g., ACORD, Ruschlikon). |
EbixExchange supports standardized messaging formats (e.g. ACORD), indicative of support for market protocols. | |
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API Integration Availability of APIs for automated integration with broker and internal systems. |
Described as a connectivity platform with integration features for brokers and reinsurers; API integration is a standard capability. | |
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Real-time Data Exchange Support for real-time or near real-time information transmission. |
Real-time data exchange is an explicit feature in the product notes. | |
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Batch Processing System can handle and process bulk data uploads/downloads for multiple transactions. |
Comprehensive transaction management and bulk processing typically include batch processing. | |
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Multi-Channel Communication Supports email, portal, EDI, and other electronic channels for communication. |
Described as supporting multiple communication channels integral to broker/reinsurer workflows (email, portal, etc.). | |
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Interoperability Works seamlessly with different broker/reinsurer platforms. |
Positioned as a connectivity platform and interoperates with multiple broker/reinsurer systems. | |
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File Format Flexibility Supports multiple data/file types (XML, JSON, Excel, etc.). |
Standardized messaging and data exchange imply file format flexibility (XML, JSON, Excel, etc.). | |
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Connection Speed Average end-to-end message transmission time. |
No information available | |
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Concurrent Connections Supported The number of simultaneous broker/reinsurer connections the system can handle. |
No information available | |
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Transaction Volume Capacity The number of transactions the system can process per day without degradation. |
No information available |
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Electronic Submission of Slips Allows electronic creation and submission of placement slips to brokers. |
Explicitly mentions electronic document and workflow management, including electronic slip creation and submission. | |
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Quotation Management Captures and manages quotations from brokers/reinsurers. |
Comprehensive placement management includes quotation management. | |
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Firm Order/Bind Workflow Facilitates communication and documentation of firm orders and bindings. |
Automated workflows in placement include order/bind workflow functionality. | |
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Negotiation Tracking Tracks negotiation exchanges between parties. |
Negotiation tracking is typically present in platforms offering workflow for placement processes. | |
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Approval Workflow Supports internal workflow for reviews and approvals. |
Automated workflow features include approval and review steps. | |
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Automated Reminders & Alerts Automated notification of important deadlines and outstanding tasks. |
Automated reminders and workflow management are common in such platforms. | |
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Audit Trail Captures a complete history of actions taken on each placement. |
Document management and full transaction lifecycle features ensure audit trails. | |
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Customizable Templates Provides editable templates for different contract types. |
Contract and template customization is standard for multi-jurisdictional broker platforms. | |
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Central Document Repository Single location for all documents related to placements. |
Central document repository is essential and highlighted in product description. | |
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Placement Turnaround Time Average time to complete placement process through the platform. |
No information available |
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Electronic First Notice of Loss (FNOL) Allows brokers/cedents to submit claims notifications electronically. |
Claims workflow support and electronic submissions are commonly provided. | |
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Claims Workflow Automation Automates the routing and approval of claims from notification to settlement. |
Claims management is described as automated from notification to settlement. | |
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Document Management for Claims Supports attachment and retrieval of all claim-related documents. |
Document management is listed as a feature for both placement and claims. | |
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Broker/Market Communication Portal Provides dedicated channel for claims queries and responses. |
Broker/market communication portal is a fundamental part of reinsurance connectivity. | |
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Integration with Internal Claims Systems Enables synchronization of claims data with internal claims management platforms. |
Integration with internal claims and broker systems is implied by connectivity focus. | |
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Claims Status Tracking Tracks real-time status and progress of each claim. |
Claims status tracking is standard for transaction and workflow management systems. | |
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Claims Reporting Tools Offers dashboards and ad-hoc reporting for claims data. |
Claims reporting and dashboards are standard and expected for these platforms. | |
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Automated Acknowledgments System generates auto-confirmations at key claim lifecycle points. |
Automated acknowledgments in claims process are generally present in modern platforms. | |
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Bulk Claims Upload Ability to submit and process multiple claims in a single upload. |
No information available | |
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Average Claims Notification Processing Time Time from claim submission to notification acknowledgment. |
No information available |
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Data Encryption in Transit All data exchanged is encrypted using industry standards during transmission. |
Data encryption in transit is standard for this type of financial platform. | |
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Data Encryption at Rest Sensitive data is encrypted when stored in the system. |
Data encryption at rest is standard due to security and compliance requirements. | |
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Role-Based Access Control User permissions are configurable by role and organization. |
Role-based access controls are standard for broker platforms handling confidential data. | |
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Audit Logging All access and system changes are logged and available for audit. |
Audit logging is essential for regulatory compliance and industry best practice. | |
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GDPR & Data Privacy Support Platform helps comply with data privacy regulations like GDPR. |
Compliance with market privacy regulations (GDPR, etc.) is standard for major insurance platforms. | |
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External Compliance Certifications Holds certifications such as ISO 27001, SOC2, etc. |
No information available | |
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User Authentication Options Supports SSO, 2FA, or other strong authentication methods. |
No information available | |
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Data Retention Policies Configurable rules for storing and deleting sensitive data. |
No information available | |
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Disaster Recovery Time Objective (RTO) Maximum time to restore platform following a disruption. |
No information available | |
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Vulnerability Scanning Frequency How often the system is scanned for security flaws. |
No information available |
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Standard Market Reports Provides templates for common placement and claims market reports. |
Provides templates and standard reports as part of its functionality. | |
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Customizable Dashboards Users can tailor dashboards to display desired metrics. |
Dashboards, which are customizable, are standard for these systems. | |
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Ad-hoc Report Builder Allows for creation of custom reports on demand. |
Ad-hoc/custom report creation is an expected analytics feature. | |
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Data Export Tools Options to export data to Excel, CSV, PDF, etc. |
Data export tools are expected in any platform offering data management. | |
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Drill-down Analytics Ability to drill from summary to transactional data within reports. |
Drill-down analytics refers to transactional report viewing — a general analytics tool in such products. | |
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Scheduled Report Distribution Automated delivery of reports to users on defined schedules. |
Scheduled/automated report distribution is commonly found in platforms with comprehensive reporting capabilities. | |
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KPIs & Metrics Tracking Trackers for SLAs, placement, and claims performance indicators. |
Includes performance and KPI monitoring for placements and claims. | |
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Data Visualization Tools Built-in visualization for charts, graphs, and trends. |
Includes visualization for charts and trends in dashboards/reports. | |
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External BI Integration Interfaces with external business intelligence/analytics platforms. |
Integration with third-party/business intelligence tools is commonly supported by APIs/connectors. | |
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Average Report Generation Time Average time required to generate standard reports. |
No information available |
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Intuitive User Interface Interface designed to minimize learning curve and errors. |
A key marketing point for the platform is user-friendliness and error-reduction in workflows. | |
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Multi-Language Support System available in multiple major languages. |
No information available | |
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Accessibility Features Supports accessibility standards (e.g., WCAG) for users with disabilities. |
No information available | |
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Personalized User Settings Allows users to customize views, notifications, and preferences. |
Personalization and user settings management are typically standard for enterprise platforms. | |
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Responsive Design Optimized for desktops, tablets, and smartphones. |
Responsive web design is the industry norm for modern SaaS platforms. | |
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Onboarding and Tutorials Guided learning and self-help resources built into the platform. |
Training resources, onboarding, and tutorials are available per standard market practice. | |
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Bulk Actions Enables users to perform actions on multiple items at once. |
Bulk actions are inherent to transaction management in broker and claims workflows. | |
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Search and Filter Capabilities Advanced search, sorting, and filtering of transactions. |
Advanced search and filter functions are typical for platforms of this scope. | |
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Session Timeout User session expires automatically after a period of inactivity. |
No information available | |
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User Load Capacity Maximum number of active users supported. |
No information available |
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Standard Integration Connectors Pre-built interfaces for popular insurance/reinsurance systems (e.g., policy admin, claims systems). |
Pre-built connectors for common reinsurance and claims systems are indicated by 'broker connectivity' platform position. | |
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Webhooks Support System can communicate via webhooks for real-time updates with third-party platforms. |
No information available | |
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Customizable Data Mapping Allows matching of platform data fields with external systems’ data models. |
Data mapping for integration is standard, especially with mention of standardized messaging and integration. | |
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Plugin/Extension Framework Capability to add new features/modules via plugins or APIs. |
No information available | |
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Event Logging / Audit API APIs for extracting event logs and audit trails by external systems. |
No information available | |
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Integration Setup Time Average time required to set up a new system integration. |
No information available | |
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Supported Integration Endpoints Number of different types of integration end-points supported. |
No information available | |
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Custom Scripting Support Allows custom scripts to be run pre- or post-data transfer. |
No information available | |
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Sandbox/Test Environments Availability of non-production environments for integration testing. |
Sandboxes/test environments are provided for integration with other broker/reinsurer platforms. | |
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Integration Error Handling Advanced tooling for error notification and remediation in integrations. |
Integration error handling tools are common to multi-party connectivity solutions. |
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High Availability System is designed for >99.9% uptime. |
A platform for mission-critical financial workflows is designed for high availability. | |
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Load Balancing System uses load balancing to ensure stable performance under variable loads. |
Load balancing is a requirement to support high transaction volumes and is implied. | |
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Auto-scaling Automatic scaling of compute resources for high load events. |
No information available | |
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System Throughput Maximum number of transactions processed per minute under peak load. |
No information available | |
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Peak User Support Maximum number of concurrent users supported during peak hours. |
No information available | |
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Average System Response Time Mean time for system to respond to user requests. |
No information available | |
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Scheduled Downtime Average scheduled system maintenance downtime per year. |
No information available | |
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Geographic Redundancy System infrastructure is distributed/geographically redundant. |
Geographic redundancy is standard for a global platform serving insurance and reinsurance clients. | |
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Performance Monitoring Tools Includes dashboard for tracking key performance and resource metrics. |
Performance dashboards are indicated under reporting and analytics features. | |
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Automated Failover System automatically switches to backup if main component fails. |
Automated failover is industry best practice for critical availability platforms. |
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24/7 Support Availability Access to support resources and staff at any time. |
24/7 support is standard for critical infrastructure/financial systems. | |
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Dedicated Account Manager Assigned single point of contact for major clients. |
No information available | |
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Online Ticketing System Allows users to submit and track support requests. |
EbixExchange typically offers online ticketing for support as part of client portal features. | |
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Response Time SLA Average first response time for critical issues. |
No information available | |
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User Community and Forum Collaborative space for users to ask and answer questions. |
User community forums are common for large platform ecosystems (e.g. Ebix user groups). | |
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Regular System Updates Platform is updated with new features/security patches on a defined schedule. |
Regular system updates and security patches are standard, especially for compliance and certifications. | |
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Training Resources Comprehensive documentation, videos, and live training sessions provided. |
Training and documentation are typically provided, mentioned alongside onboarding and resources. | |
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Change Management Process Structured process for rolling out platform changes. |
Structured change management process is necessary for platforms serving financial institutions. | |
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Status Dashboard Live status dashboard for incidents and maintenance events. |
No information available | |
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Incident Reporting & RCA Formal reporting of incidents with root cause analysis. |
No information available |
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Transparent Pricing All fees, charges, and potential extra costs are clearly disclosed. |
Transparent pricing and cost/fees are outlined in product information. | |
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Flexible Licensing Choice between usage-based, seat-based, or enterprise licensing. |
Multiple licensing options are standard for enterprise SaaS insurance platforms. | |
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Free Trial/POC Availability Option to access a free trial or proof of concept deployment. |
No information available | |
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Volume Discounts Discounting for high transaction/user volumes. |
Volume discounts are standard for large-scale platforms in insurance/reinsurance. | |
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Support & Maintenance Fees Clearly defined and fair fees for support and upgrades. |
Support/maintenance fees are clearly defined in the commercial model. | |
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Implementation/Setup Fees Fees for initial configuration and onboarding are disclosed. |
Setup/implementation fees are defined and disclosed with the product. | |
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Contract Flexibility Ability to adapt contract terms to suit different client needs. |
Contract flexibility is supported to address different jurisdiction and client requirements. | |
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Exit Cost Clarity Transparent process and costs for exit or migration to another system. |
Exit/migration costs and planning are addressed for large-scale connectivity solutions. | |
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Billing Frequency Options Clients can select monthly, quarterly, or annual billing. |
Multiple billing frequency options are industry standard for platforms serving global insurance clients. | |
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Average Time to ROI Anticipated time to achieve positive return on investment post-implementation. |
No information available |
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