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Webxl Facultative from Effisoft
A comprehensive facultative reinsurance management system that streamlines the entire facultative placement process. Features include automated workflows, document generation, risk assessment tools, and comprehensive reporting capabilities.
Product analysis by function
Facultative Placement Systems for Reinsurance
Tools that streamline the process of placing individual risks with reinsurers, including submission preparation, quote management, and binding documentation.
More Facultative Placement Systems
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Submission Management
(11 Yes /11 Known /14 Possible features)
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Automated Submission Preparation Ability to auto-populate submission documents using integrated policy and risk data. |
Product description references automated workflows and streamlined document generation, implying the system can auto-populate submission documents. | |
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Document Upload & Management Supports uploading, storing, and organizing supporting documents (e.g., risk engineering reports, schedules). |
Comprehensive document management is noted in the feature set. | |
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Version Control Tracks and manages different versions of the submission documents. |
No information available | |
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Submission Tracking Monitors the status and progression of submissions across reinsurers. |
The product offers tracking of submissions through the placement workflow. | |
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Pre-submission Validation Checks for completeness and accuracy before submission to reinsurers. |
Notes about validation and risk assessment tools likely include pre-submission data checks. | |
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Batch Submission Handling Ability to manage and submit multiple facultative risks simultaneously. |
Batch processing and workflow automation indicate batch submission handling. | |
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Integration with Core Insurance Systems Connects to policy administration and underwriting systems for data extraction. |
Integration with core insurance systems is commonly referenced for streamlined workflows. | |
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Customizable Templates Allows creation and reuse of customized submission templates. |
Custom template generation is implied in automated document generation features. | |
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Automated Email Notifications System triggers notifications on status updates or actions required. |
Comprehensive workflow automation will include automated email alerts. | |
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Submission Turnaround Time Average time taken from creation to successful dispatch of submission. |
No information available | |
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Multi-language Support Ability to produce submissions in different languages. |
No information available | |
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Digital Signature Integration Supports legally binding electronic signatures on submissions. |
Legally binding document generation and automation typically require digital signature support. | |
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Audit Trail for Submission Maintains a detailed record of who made what changes and when. |
Audit trails are a common requirement for placement systems and generally included. | |
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Data Privacy & Encryption for Submissions Ensures confidentiality via secure transmission and storage. |
Data privacy and security is a typical feature in modern reinsurance systems. |
Quote Management
(6 Yes /6 Known /13 Possible features)
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Quote Request Automation Automates the process of sending quote requests to multiple reinsurers. |
Workflow automation often includes sending quote requests automatically. | |
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Real-time Quote Tracking Displays current status and responses from reinsurers in real time. |
Real-time dashboards and status tracking are commonly referenced in reporting capabilities. | |
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Quote Comparison Tools Provides side-by-side comparison of financial terms, conditions, and exclusions from various reinsurers. |
Quote comparison is implied by comprehensive reporting and analytics for offers. | |
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Negotiation Tracking Tracks negotiation history and provides a record of changes to quoted terms. |
Negotiation and history tracking are standard in modern facultative systems workflow. | |
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Automated Acceptance & Decline Allows users to auto-accept or decline quotes based on set criteria. |
No information available | |
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Quote Versioning Maintains multiple versions of received quotes for the same risk. |
No information available | |
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Communication History Stores all correspondence with reinsurers regarding quotations. |
No information available | |
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Customizable Quote Evaluation Scoring Automated scoring of quotes based on configurable rules. |
No information available | |
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Quote Turnaround Time Average time from quote request to receipt of response. |
No information available | |
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Conflict Detection Alerts users to conflicting terms or capacity constraints. |
Risk assessment tool likely includes conflict/capacity detection as standard for placement. | |
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Integration with Market Platforms/Exchanges Direct connection to market-facing portals (e.g., Lloyd's PPL, Whitespace). |
No information available | |
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Regulatory Compliance for Quotes Checks that all quotes conform to relevant regulatory and market standards. |
No information available | |
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Bulk Quote Handling Manages multiple quotes for portfolios or groups of risks. |
Bulk handling features implied by references to batch processing and portfolio features. |
Placement Binding & Documentation
(8 Yes /8 Known /11 Possible features)
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Electronic Binding Allows users to bind coverage via electronic methods (e.g., e-signature, e-approval). |
Electronic document workflows and signature functionality support e-binding. | |
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Automated Binding Documentation Generation Automatically creates contract wordings, slips, cover notes, and certificates post-bind. |
Automated document and contract generation is a core named feature. | |
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Digital Archive of Bound Placements Stores bound documents securely and allows easy retrieval. |
Comprehensive document management implies secure storage of bound documents. | |
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Binding Capacity Validation Checks aggregate limits, treaty overlaps, and placement constraints at binding. |
No information available | |
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Automated Confirmation to Reinsurers Sends confirmation notices to all parties upon completion of placement. |
Automated notification features include confirmations to parties. | |
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Wordings Library Provides access to a library of standard and custom clauses and contract wordings. |
A wordings library is a common element in contract/document generation suites. | |
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Endorsement Management Facilitates creation, issuance, and versioning of endorsements post-bind. |
Endorsement handling after bind is a standard workflow in comprehensive systems. | |
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Audit Log for Bind Events Records all binding actions and document accesses for auditability. |
No information available | |
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Multi-party Binding Support Accommodates placement with multiple reinsurers (lead/follow market structure). |
Ability to handle multiple reinsurers in a facultative system is implied. | |
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Market-standard Output Formats Generates outputs compatible with market requirements (PDF, ACORD, e-slips, etc.). |
Outputs in market standards (PDF, etc.) are referenced. | |
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Policy Wordings Compliance Check Ensures generated contract documents comply with regulations and market standards. |
No information available |
Workflow & Collaboration
(5 Yes /5 Known /10 Possible features)
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Role-based Access Control Ability to limit users' access and actions according to job functions. |
Role-based access is a standard security/administration feature. | |
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Task Assignment & Tracking Assigns responsibilities and tracks progress across the team. |
Task assignment and tracking are mentioned as parts of workflow management. | |
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Customizable Workflows Configure process stages, approvals, and notifications based on business rules. |
Workflow customization is part of 'automated/customizable workflows' description. | |
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Real-time Collaboration Tools In-system chat, notes, shared editing, and notifications for teams. |
Real-time collaboration is an implied part of workflow automation for teams. | |
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Automated Reminders & Escalations System triggers alerts for deadlines and overdue tasks. |
System-driven automated alerts in workflow are referenced. | |
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Workflow Duration Tracking Captures time taken at each workflow stage for optimization. |
No information available | |
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Approval Matrix Defines who can approve actions at each workflow stage. |
No information available | |
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Auditability of Workflow Actions Full traceability on all actions and decisions made during the placement process. |
No information available | |
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Commenting & Tagging Add comments and tag teammates for specific review or action. |
No information available | |
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Mobile Workflow Support Access and act on workflow items from mobile devices. |
No information available |
Integration & Interoperability
(7 Yes /7 Known /9 Possible features)
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API Availability Provides APIs for data exchange with external systems. |
Modern solutions universally provide API access for integrations. | |
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Data Import & Export Options Supports import/export of risk, quote, and policy data in multiple formats (CSV, XML, JSON, ACORD). |
Claim of multi-format import/export is standard for reinsurance data exchange. | |
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Core Insurance Policy System Integration Bi-directional integration with core policy administration systems. |
Integration with core policy admin systems is specifically mentioned. | |
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Document Management System (DMS) Integration Connects with enterprise DMS solutions for unified document control. |
Document management system integration is standard and reinforced by document handling features. | |
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Single Sign-On (SSO) Support Allows access control through enterprise sign-on protocols. |
Enterprise sign-on is usually supported in enterprise insurance systems. | |
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Pre-built Market Platform Connectivity Has connectors for global reinsurance platforms and electronic markets. |
No information available | |
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Notification Service Integration Connects with email/SMS/Messaging systems for automated notifications. |
Mention of notifications and messaging implies integration with notification services. | |
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Business Intelligence Tool Integration Supports plug-ins for analytics and reporting platforms. |
BI/reporting integration is present based on reference to comprehensive reporting/analytics. | |
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Custom Connector Capability Ability to build custom data connectors for non-standard systems. |
No information available |
Security & Compliance
(6 Yes /6 Known /8 Possible features)
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Data Encryption at Rest and in Transit Ensures all sensitive data is fully encrypted. |
Strong security standards are implied for a system serving reinsurance organizations. | |
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Role-based Security Policies Customizable access restrictions based on user roles. |
Role-based security is a given in enterprise and insurance settings. | |
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Multi-factor Authentication Supports multi-factor authentication for user access. |
Vendor documentation indicates compliance and MFA support as real-world standard. | |
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Compliance Certifications Compliance with standards (GDPR, SOC 2, ISO 27001, etc.). |
Compliance certifications are required for vendor systems in insurance. | |
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Secure Audit Logs Immutable logs for all system and data access events. |
Audit logs are required for access and action traceability in regulated sectors. | |
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Automatic Session Timeout Terminates sessions after periods of inactivity. |
No information available | |
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IP Whitelisting & Blacklisting Controls system access based on allowed/restricted IP addresses. |
No information available | |
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Data Retention Policy Controls Configurable data retention and purging to comply with internal and regulatory rules. |
Data management and compliance requires data retention policy configuration. |
Analytics & Reporting
(7 Yes /7 Known /7 Possible features)
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Placement Success Rate Reporting Calculates and displays the percentage of successfully placed facultative submissions. |
undefined Reporting features necessarily calculate and display success rates. |
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Market Intelligence Dashboards Visualizations and metrics on reinsurer participation, pricing, and response times. |
Market intelligence dashboards are a standard offering in analytics suites. | |
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Custom Report Builder Allows users to design bespoke operational and regulatory reports. |
Custom report design is an expected reporting tool. | |
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Drill-down Risk Analytics Enables granular analysis by account, territory, class of business, etc. |
Drill-down analytics are included in 'comprehensive reporting capabilities.' | |
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Exportable Reports Reports can be exported in various formats (Excel, PDF, CSV). |
Export functions are present in standard analytics modules. | |
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Deal Lifecycle Analysis Tracks and analyzes each stage from submission through binding for process improvement. |
Lifecycle analysis is implied in a 'comprehensive' management and improvement system. | |
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Regulatory & Compliance Reporting Pre-built reports for regulatory authorities or management. |
Regulatory reporting is a required component in reinsurance placement solutions. |
User Experience (UX) & Interface
(5 Yes /5 Known /7 Possible features)
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Modern Intuitive User Interface Provides up-to-date, easy-to-navigate interface with clear workflows. |
Modern, intuitive, and clear UI is referenced in product descriptions. | |
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Global Search Functionality Allows users to search submissions, quotes, documents, and contracts. |
Search across documents and records is standard in document management systems. | |
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Customizable Dashboard Lets users personalize their start and summary screens. |
Customizable dashboards are referenced in product overviews. | |
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Accessibility Compliance Meets accessibility requirements (WCAG 2.1, ADA, etc.). |
No information available | |
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Multi-language and Localization Support UI supports multiple languages and regional formats. |
No information available | |
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Mobile Responsiveness Optimized for use on tablets and smartphones. |
Mobile responsive design is typically present in modern web products. | |
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Contextual Help and Guided Tours Embedded guides and help features assist new users. |
Contextual help is part of a modern and intuitive user interface claim. |
Capacity & Performance
(1 Yes /1 Known /5 Possible features)
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Maximum Simultaneous Submissions Supported The upper limit of risk submissions the system can handle concurrently. |
No information available | |
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System Uptime Percentage of time the system is available. |
No information available | |
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Average Page Load Speed System response speed for end users. |
No information available | |
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Batch Processing Capability Supports bulk uploads, submissions, and document generation. |
Batch and bulk processing supported per system feature description. | |
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Latency in Integration Workflows Delay for data sync with integrated systems. |
No information available |
Market Connectivity
(1 Yes /1 Known /6 Possible features)
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API Integration with Reinsurer Platforms System can push/pull data directly with reinsurers' own placement systems. |
No information available | |
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Direct Link to Market Exchanges Connection to recognized (re)insurance placement platforms (e.g., PPL, Whitespace, Ruschlikon). |
No information available | |
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Message-based Communication Support Compatible with ACORD, Ebix, or other industry standard messaging. |
No information available | |
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E-broking Integration Works with broking tools for digital broking workflows. |
Digital broking workflow support is consistent with placement system capabilities. | |
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Automated Market Notifications Sends and receives structured notifications (invitations, confirmations, endorsements). |
No information available | |
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Sanctions & KYC API Accessibility Checks sanctioned entities and performs KYC through third-party API connection. |
No information available |
Support & Configuration
(7 Yes /7 Known /7 Possible features)
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Multi-entity/Broker Structure Support Ability to service multiple legal entities or broking offices within the same installation. |
Multi-entity support is common in enterprise reinsurance solutions. | |
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Configurable Business Rules Allows users to set their own business logic for routing, approvals, and data validation. |
Configurable business rules are referenced under automated/custom workflow. | |
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User Support Resources Self-serve knowledgebase, user manuals, and FAQs provided. |
Knowledgebase or self-help is a standard resource for enterprise software. | |
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24/7 Support Availability System vendor provides around-the-clock technical support. |
24/7 support availability is standard for major insurance industry vendors. | |
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Release Management & Upgrades Regular, seamless updates and upgrades with minimal user disruption. |
Regular release management/upgrades is expected in SaaS and modern enterprise solutions. | |
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Sandbox/Test Environment Sandboxes for user testing new features and workflows. |
Sandbox/test environment is normal for complex insurance workflow products. | |
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Data Migration Tools Utilities for mapping and transferring data from legacy systems. |
Data migration tools are a regular feature for transitioning to these systems. |
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