Braving Social Distancing, Relay Platform Brings People in the (Re)insurance Sphere Together Again – Get your quote now

LONDON, May 7, 2020 / PRNewswire / – As in many other industries, Covid-19 has become a huge disruptor that is forcing companies to adapt, some with more success than others. But in the midst of forced social distancing, how can insurers and reinsurers maintain connectivity that is so crucial for spinning the wheels? Establishing trust and meeting face to face is an important element in reaching an agreement in any company, but no more than in the insurance and reinsurance sector, where the agreements are based on reputation, handshakes and business lunches. Current industry trends are certainly not facilitating business, warns Greg Boutin, CEO of Sofware-as-a-Service Platform, in an article in Business Reporter. With the time-based competition that is finally entering the sector, access to strengthening insurance and reinsurance capacity and the evolution of risk transfer models that lead reinsurers, carriers and brokers to move into mutual activities, we were already witnessing a perfect storm of challenges before C-19. The industry is trying to adapt. However, this evolution is poorly supported by the central systems that feed them. Companies must abandon rigid and engineered "mainframe" systems that cannot react flexibly to market dynamics and implement more agile and flexible digital solutions. These systems must offer faster access to capacity to prevent professionals from losing offers. This requires integrated digital support for greater social connectivity and the element of trust it promotes, which will remain a crucial aspect of the transfer of risk given its overall complexity. "In Relay, we build a platform that connects people, data and systems in one place, both for insurance and reinsurance, and we wanted to put it at the service of the community," says Boutin, in a video specially recorded by the his home office. E-mails, says Boutin, remain the number one way to complete internships for insurance professionals, so Relay fully supports it. Unlike other positioning systems, no account is required to respond to the quotes. "It is the most flexible way to interact with the market and stay connected. We believe that the placements are focused on connectivity. The relay is built around the end user, around people, because I believe you can eliminate the transfer process risk from the office, but you can't keep people out of that process. "Relay offers an extended trial period for insurers interested in trying the service and offering feedback. It also offers free basic accounts. "Use it, see how much better your life could be – our work is all about connectivity. We are a team of digital natives whose only mission is to improve your life," says Boutin. "Don't let this crisis go to waste, use it to digitize." To learn more about how Relay can help you connect and maintain trust for risk transfers, go to www.relayplatfrom.com Notes for Editors This press release has been provided by Business Reporter (www.business-reporter.co. uk) .Information about Business Reporter Business Reporter is distributed with The Daily Telegraph, The Sunday Telegraph and City AM, with each publication reaching an average of 1.5 million people. The content is also published through Business Reporters and teiss websites, which include video debates, online articles and digital journals, offering news and analysis on issues affecting companies to a global audience. 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Whether you run a small business, the head of a local company or an executive of a multinational company, there is something for you in Business Reporter. www.business-reporter.co.uk Information about the forwarding platform The forwarding platform is an online software-as-a-service solution that helps transfer teams, insurance underwriters and brokers to structure and guarantee reinsurance and insurance placements large size easier and faster. Relay has been launched and is rapidly evolving to offer risk transfer professionals a much better way to connect and transact online. Relay has been selected by the Plug and Play investor as one of the 10 best Insurtech companies for 2020, as a semi-finalist in the North ACORD 2019- American Challenge, and as a finalist in the next Pitch Insurtech North 2020 Competition. It is also supported by Fortune- 500 American Family Insurance, from NFP Ventures and VC's Highline Beta company.