BMS Re opts for Relay’s F1 electronic placement system
The US reinsurance arm of specialist broker BMS has selected Relay’s F1 electronic placement system to support its growth across the industry.
The Broker Portal combines a range of features designed to increase the ease of doing business, facilitate and integrate quotes from all reinsurers, and reduce the time it takes to market an investment and update clients.
BMS Re has since configured its environment to create consistent submission packages, automate document generation, and streamline market access.
As part of Relay’s reinsurance broker activation strategy, the platform allows BMS Re to visually structure investments, identify and approach the most relevant markets, and iteratively automate the following steps to increase closing rates.
“We are delighted to announce our partnership with Relay,” said Pete Chandler, President and CEO of BMS Re US.
“The timing couldn’t be better after the results of our market research which showed that a third of those surveyed had not yet decided on an e-commerce strategy.
“Relay’s next-generation placement interface and analysis, dynamic quote comparison, and management dashboard will provide BMS Re with access to consistent quote packages, improved reinsurer connectivity, and improved reinsurer efficiency. data capture, ”added Greg Boutin, CEO of Relay.
“Relay is designed to enable modern brokers, cedants and reinsurers through APIs to adapt to all traditional business methods. “