The proprietary platform FAConnect is a web portal for the placement of high volume, low- to medium-revenue facultative transactions. It allows Aon Benfield clients to quote and bind their facultative risks through a user interface.
According to AgencyPort, the platform leverages functionality from other AgencyPortal implementations such as quoting and binding for single or multiple placements, first notice of loss reporting, management reporting and bordereaux processing. It was extended to handle pre-negotiated facilities between ceding insurance companies and their chosen reinsurance markets and to do so for lines of insurance not before implemented by AgencyPort.
Steve Hauck, president of AgencyPort, said: “The launch of FAConnect in mere months is a testament to the application variability and product maturity of AgencyPortal and its Toolkit architecture.
“Aon Benfield is breaking new ground in serving the reinsurance market, utilizing our market leading application framework for deploying transactional portals. Through innovative product development, AgencyPort continues to be the provider of choice and to enable players in the P&C market to differentiate themselves in their markets.”