Beyond Multinational Programs (BMNP)
Digital coordination for Insurers and Brokers to set-up, underwrite, bind and service complex multinational insurance programs (global programs).
Globally Efficient and Locally Compliant
Beyond Multinational Programs is a SaaS-enabled next-generation technology platform that allows insurers to:
Connect internal producing, regional and local offices offices as well as external fronting network partners
Engage all participants on a digital platform by guiding them through every step in the process of administering international insurance programs
Control the operational and country specific compliance adherence when placing business globally
The policies and process should be globally efficient and locally compliant.
Today’s Challenges
Manual Processes and Multiple Interactions
Regulatory Complexity
Data Proliferation
Lack of Compliance and Auditability
Linear Data Processing
Poor Data Quality
Our Solution - Beyond Multinational Programs (BMNP)
BMNP platform provides a seamless and flexible state of the art platform providing greater automation, improved timeliness/accuracy and greater operational efficiency
Connect producing and regional offices of the insurer, brokers with the global external fronting and underwriting network partners
Connect internal and external partners digitally onto the platform
Support partner expansion strategy by configuring new partners seamlessly on a modern infrastructure
Connect digitally local policies with the master policy to reflect the accurate coverages requested by clients
Allow flexibility in connecting processes to support different variations of a multinational insurance program
Plug into different internal system with a modern APIs and connector framework
Interface efficiently with the other multinational service networks
Engage parties on a digital platform by guiding them through every step in the process
Promote consistent repeatable processes between all parties
Guide the users on the process in every step of the way on the platform
Alert the users to any changes on the program to enable quick intervention and minimise delays
Communicate securely through the platform with parties globally providing a greater level of transparency on the program
Share documents and data on the platform providing a single view of the program between all the parties
Simple, Intuitive user interface to drive better engagement with both internal users and external partners / parties
Control the operational and country specific compliance adherence of covering risks globally
Enforce compliance with local regulations by providing country specific underwriting intelligence on the platform
Transfer securely data in real-time between the parties
Manage operational service levels by using up-to-date status views of every policy/premium payment on the program
Control the process by providing better clarity of next steps and actions to the internal and external users on the platform
Audit all actions on the platform to see data and process lineage across the multinational insurance program
Technology Architecture
SaaS enabled solution, underpinned by Distributed Ledger Technology framework to enforce sharing of data and process securely
Comprehensive authentication and authorisation framework (Role Based Access Control).
Secure data – both at rest and in transit
Intuitive user interface that is reactive and responsive
Rich APIs that allows the platform to be integrated into internal and external systems
Value Creation
Reduced cost of Coordination
Up to 30% saving in operational frictional cost, promoting efficiencies
Data Quality
Zero reconciliation effort, Single source of truth on the programs across all entities
Compliance Adherence
Globally consistent process & Locally compliance policies
Improved Customer Service
Quicker turn around on insurance programs especially on yearly renewals
Process Support
We offer comprehensive support for operational process to augment our platform solution.
Onboarding support
Credit control assistance
Placement / Bind support
Submission clearance
Support for Reinsurance