Willis Re announces digital move to further develop globalREmarket placement platform
Willis Re, the reinsurance business of leading global advisory, broking and solutions company Willis Towers Watson (NASDAQ: WLTW), today announced its intention to further develop an online placement platform that will enhance how it transacts with markets.
The platform, globalREmarket (formerly X-gRm), is a state of the art reinsurance placement platform launched in 2015.
It provides a single, secure and efficient repository for reinsurance markets to receive offers and submissions, and to exchange information with brokers such as exposure data, analytics and terms and conditions.
Willis Re has a controlling interest in an independent, third party company – RePlace Holding LLC – with TigerRisk Partners, which has been part of globalREmarket’s development since launch, to further develop and enhance globalREmarket.
John Cavanagh, Global CEO of Willis Re, said: “All savvy businesses in today’s world are looking to harness the technology advantage. For Willis Re, digitization of our placement process, in support of face-to-face negotiation, will create greater security, transparency and efficiency for the way we communicate with markets.
“globalREmarket absolutely presents the best technology available to do this. Once further developed, it will improve the ease, speed and quality of our reinsurance transaction processes, and enable more focus on value-add services for the benefit of markets, for our clients, and for our own business.”
ABOUT WILLIS RE
One of the world’s leading reinsurance brokers, Willis Re is known for its world-class analytics capabilities, which it combines with its reinsurance expertise in a seamless, integrated offering that can help clients increase the value of their businesses. Willis Re serves the risk management and risk transfer needs of a diverse, global client base that includes all of the world’s top insurance and reinsurance carriers as well as national catastrophe schemes in many countries around the world. The broker’s global team of experts offers services and advice that can help clients make better reinsurance decisions and negotiate optimum terms. For more information, visit willisre.com
ABOUT WILLIS TOWERS WATSON
Willis Towers Watson (NASDAQ:WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 40,000 employees serving more than 140 countries. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas – the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com
CONTACT
MEDIA
Annie Roberts:
+44 20 3124 7080
Annie.Roberts@willistowerswatson.com
ENQUIRIES
Damian Beeley:
+44 (0)20 7562 4444
Damian.Beeley@haggie.co.uk
INVESTORS
Aida Sukys:
+1 703 258 8033
Aida.Sukys@willistowerswatson.com