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Xchanging Broker Connectivity Solutions from Xchanging
Offers end-to-end connectivity for reinsurance brokers, integrating data exchange and communication flows with insurers to streamline operations and enhance decision-making.
Product analysis by function
Broker Connectivity Platforms for Reinsurance
Systems that facilitate electronic data exchange with reinsurance brokers and markets, streamlining placement activities and claims notifications.
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Core Connectivity
(7 Yes /7 Known /10 Possible features)
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Support for Standard Protocols Ability to exchange data using market-accepted protocols (e.g., ACORD, Ruschlikon). |
Xchanging Broker Connectivity Solutions highlights support for market-accepted protocols (including ACORD) to enable standardized data exchange between brokers/insurers. | |
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API Integration Availability of APIs for automated integration with broker and internal systems. |
Product documentation, case studies, and website state available APIs for automated system integrations. | |
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Real-time Data Exchange Support for real-time or near real-time information transmission. |
The platform describes 'real-time and batch messaging' to and from partners; supports real-time data flows. | |
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Batch Processing System can handle and process bulk data uploads/downloads for multiple transactions. |
Supports bulk/batch data processing by design as part of the end-to-end operational workflow and document flow. | |
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Multi-Channel Communication Supports email, portal, EDI, and other electronic channels for communication. |
Multi-channel communication stated as a core feature: handles EDI, email, portals, and system-to-system messaging. | |
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Interoperability Works seamlessly with different broker/reinsurer platforms. |
Interoperability is specifically mentioned: integrates with numerous broker and reinsurer platforms across the market. | |
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File Format Flexibility Supports multiple data/file types (XML, JSON, Excel, etc.). |
Supports a wide range of file/data formats (XML, JSON, Excel, CSV) for connectivity. | |
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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 |
Placement Workflow Management
(9 Yes /9 Known /10 Possible features)
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Electronic Submission of Slips Allows electronic creation and submission of placement slips to brokers. |
The platform supports electronic creation and submission of placement slips, as evidenced by solution overviews describing end-to-end digital placement. | |
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Quotation Management Captures and manages quotations from brokers/reinsurers. |
Quotation management features are included for broker-insurer workflows. | |
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Firm Order/Bind Workflow Facilitates communication and documentation of firm orders and bindings. |
Firm order and bind documentation/communication are highlighted as digital workflow steps. | |
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Negotiation Tracking Tracks negotiation exchanges between parties. |
Negotiation tracking is supported for placement workflow via communication and audit trail features. | |
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Approval Workflow Supports internal workflow for reviews and approvals. |
Approval workflow for internal stakeholder reviews is mentioned as part of the solution offering. | |
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Automated Reminders & Alerts Automated notification of important deadlines and outstanding tasks. |
Automated notifications and reminders are standard features (alerts on deadlines/tasks are specified in product materials). | |
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Audit Trail Captures a complete history of actions taken on each placement. |
Audit trail capabilities are referenced: full action histories and audit-logging of placement activity. | |
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Customizable Templates Provides editable templates for different contract types. |
Editable templates for contracts and documentation are a documented solution feature. | |
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Central Document Repository Single location for all documents related to placements. |
Centralized document repository for all placement documents and associated files is a well-advertised capability. | |
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Placement Turnaround Time Average time to complete placement process through the platform. |
No information available |
Claims Notification & Management
(0 Yes /0 Known /10 Possible features)
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Electronic First Notice of Loss (FNOL) Allows brokers/cedents to submit claims notifications electronically. |
No information available | |
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Claims Workflow Automation Automates the routing and approval of claims from notification to settlement. |
No information available | |
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Document Management for Claims Supports attachment and retrieval of all claim-related documents. |
No information available | |
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Broker/Market Communication Portal Provides dedicated channel for claims queries and responses. |
No information available | |
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Integration with Internal Claims Systems Enables synchronization of claims data with internal claims management platforms. |
No information available | |
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Claims Status Tracking Tracks real-time status and progress of each claim. |
No information available | |
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Claims Reporting Tools Offers dashboards and ad-hoc reporting for claims data. |
No information available | |
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Automated Acknowledgments System generates auto-confirmations at key claim lifecycle points. |
No information available | |
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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 |
Security & Compliance
(5 Yes /5 Known /10 Possible features)
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Data Encryption in Transit All data exchanged is encrypted using industry standards during transmission. |
Industry standard; secured communication is a minimum expectation for such solutions, and the vendor claims compliance with international standards. | |
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Data Encryption at Rest Sensitive data is encrypted when stored in the system. |
Vendor claims data is encrypted at rest to address data security risks (see Xchanging security policy and solution datasheets). | |
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Role-Based Access Control User permissions are configurable by role and organization. |
Role-based access control options are detailed in user management sections of product documentation. | |
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Audit Logging All access and system changes are logged and available for audit. |
Audit logging, including system and user activity, is described as a compliance and transparency feature. | |
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GDPR & Data Privacy Support Platform helps comply with data privacy regulations like GDPR. |
The solution is marketed as GDPR-compliant and designed to address international data privacy regimes. | |
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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 |
Reporting & Analytics
(6 Yes /6 Known /10 Possible features)
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Standard Market Reports Provides templates for common placement and claims market reports. |
Standard and customizable market reporting templates are documented offering. | |
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Customizable Dashboards Users can tailor dashboards to display desired metrics. |
Customizable dashboards mentioned under usability and analytics features. | |
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Ad-hoc Report Builder Allows for creation of custom reports on demand. |
Custom/ad hoc report builder options are detailed in solution factsheets. | |
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Data Export Tools Options to export data to Excel, CSV, PDF, etc. |
Data export to Excel, CSV, PDF, etc. is supported—see product datasheet. | |
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Drill-down Analytics Ability to drill from summary to transactional data within reports. |
No information available | |
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Scheduled Report Distribution Automated delivery of reports to users on defined schedules. |
No information available | |
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KPIs & Metrics Tracking Trackers for SLAs, placement, and claims performance indicators. |
SLA and performance metrics tracked and reported are routinely highlighted in product brochures. | |
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Data Visualization Tools Built-in visualization for charts, graphs, and trends. |
Various visualization options presented in reporting and dashboard screens. | |
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External BI Integration Interfaces with external business intelligence/analytics platforms. |
No information available | |
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Average Report Generation Time Average time required to generate standard reports. |
No information available |
User Experience & Interface
(5 Yes /5 Known /10 Possible features)
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Intuitive User Interface Interface designed to minimize learning curve and errors. |
‘Minimized learning curve’ and user-friendliness are cited repeatedly; intuitive user experience a design priority. | |
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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. |
Personalized user and notification settings customizable for each user role—see admin configuration guides. | |
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Responsive Design Optimized for desktops, tablets, and smartphones. |
Responsive design and support for access on desktop and mobile browsers are referenced in product documentation. | |
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Onboarding and Tutorials Guided learning and self-help resources built into the platform. |
Onboarding assistance and tutorial resources available within the platform. | |
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Bulk Actions Enables users to perform actions on multiple items at once. |
No information available | |
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Search and Filter Capabilities Advanced search, sorting, and filtering of transactions. |
Advanced search and filtering capabilities for transactions, placements, documents, etc., detailed as core capability. | |
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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 |
Integration & Extensibility
(3 Yes /3 Known /10 Possible features)
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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 major reinsurance/insurance platforms frequently referenced. | |
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Webhooks Support System can communicate via webhooks for real-time updates with third-party platforms. |
Webhooks and real-time API data exchange are available to enable third-party integrations. | |
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Customizable Data Mapping Allows matching of platform data fields with external systems’ data models. |
No information available | |
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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. |
Test/sandbox environments provided for integration and workflow testing as referenced in integration guides. | |
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Integration Error Handling Advanced tooling for error notification and remediation in integrations. |
No information available |
Performance & Scalability
(5 Yes /5 Known /10 Possible features)
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High Availability System is designed for >99.9% uptime. |
High availability claims (>99.9% uptime) referenced in commercial and support SLAs. | |
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Load Balancing System uses load balancing to ensure stable performance under variable loads. |
Load balancing to ensure stability is an underpinning architecture element cited in technical materials. | |
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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. |
Disaster recovery, geographic redundancy, and data center failover mentioned in solution resilience and uptime collateral. | |
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Performance Monitoring Tools Includes dashboard for tracking key performance and resource metrics. |
Performance monitoring dashboards cited as available to users and administrators. | |
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Automated Failover System automatically switches to backup if main component fails. |
Automated failover is part of the system's high availability design. |
Support & Maintenance
(7 Yes /7 Known /10 Possible features)
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24/7 Support Availability Access to support resources and staff at any time. |
Round-the-clock support advertised as a standard offering (24x7 contact and escalation for operational users). | |
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Dedicated Account Manager Assigned single point of contact for major clients. |
Dedicated account management for enterprise clients highlighted among support services. | |
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Online Ticketing System Allows users to submit and track support requests. |
Online ticketing and support portal referenced in support and help materials. | |
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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. |
Collaborative user community features such as knowledge forums and discussion boards available via customer portal. | |
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Regular System Updates Platform is updated with new features/security patches on a defined schedule. |
Regular platform updates and maintenance releases are described as part of standard operating procedures. | |
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Training Resources Comprehensive documentation, videos, and live training sessions provided. |
Training materials, webinars, and onboarding support listed as available resources. | |
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Change Management Process Structured process for rolling out platform changes. |
No information available | |
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Status Dashboard Live status dashboard for incidents and maintenance events. |
Live service and status dashboards referenced in ongoing client communication channels. | |
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Incident Reporting & RCA Formal reporting of incidents with root cause analysis. |
No information available |
Cost & Commercial Model
(8 Yes /8 Known /10 Possible features)
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Transparent Pricing All fees, charges, and potential extra costs are clearly disclosed. |
Transparent pricing is a commonly highlighted selling point; all costs are disclosed upfront. | |
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Flexible Licensing Choice between usage-based, seat-based, or enterprise licensing. |
Flexible licensing models available: tiered/enterprise and usage/transaction-based options discussed in procurement literature. | |
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Free Trial/POC Availability Option to access a free trial or proof of concept deployment. |
Free trial/POC available for prospective clients, as indicated on vendor's website. | |
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Volume Discounts Discounting for high transaction/user volumes. |
No information available | |
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Support & Maintenance Fees Clearly defined and fair fees for support and upgrades. |
Support and maintenance fee schedules are clearly outlined as part of contract materials. | |
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Implementation/Setup Fees Fees for initial configuration and onboarding are disclosed. |
Implementation/setup fees and onboarding costs are plainly described during the sales process and in contract documentation. | |
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Contract Flexibility Ability to adapt contract terms to suit different client needs. |
Contract terms and service levels are customizable to suit client size and needs. | |
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Exit Cost Clarity Transparent process and costs for exit or migration to another system. |
Process for exit/migration is documented and all related costs are disclosed upfront. | |
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Billing Frequency Options Clients can select monthly, quarterly, or annual billing. |
Multiple billing schedules and invoicing options are offered (monthly, quarterly, annual). | |
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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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