Selecting an Exposure Management Solution for a US-based Reinsurer
What was the challenge?
The fast-growing US-based reinsurer was looking for an exposure management solution and identify their geographical exposure. They wanted the solution to enable them to:
- Record locations
- Review exposure accumulation
- Run loss scenarios
- Purchase outwards reinsurance independently
How did we help?
After working with our clients to understand the client’s functional and non–functional requirements, we created a long list of 50+ exposure management solutions, using MoSCoW. Using a weighted scale, we selected the top 10 contenders for the longlist and presented our findings and shortlist recommendations. After further evaluation with the client, we attended demos of the products and discussions on the key components the reinsurer was keen on solving.
The Outcome
Alchemy London Market presented a shortlist of four exposure management solutions. This information allowed our client to decide which exposure management solution was most suitable for their requirements. The chosen EM solution will help the client to achieve efficient, centralised reporting and enabling them to identify geographical risk exposure and run loss scenarios. The next steps will be to enter into a proof of viability and if proven, implement the software with Alchemy London Market.
