In a major leap for the reinsurance sector, Jireh Connect, a Bermudian-based digital platform, has successfully facilitated its first industry loss warranty (ILW) placement since its soft launch earlier this month. The platform, which is poised to become a significant player in the reinsurance market, aims to redefine the way brokers operate and manage their placements.
Jireh Connect, the brainchild of seasoned insurance-linked securities executive Salvatore Tucci, has hit the ground running in its first month. With the support of one reinsurance broker as its primary beta user, the platform has managed nearly $100 million of capacity across various ILW structures.
The key selling point of Jireh Connect is its centralized, cloud-based system that allows brokers to manage reinsurance placements online and via mobile devices. It integrates various functions, including coordinating placements across teams and offices, secure document sharing, and capturing both external market and internal feedback.
The platform’s hosting on Amazon Web Services enhances its accessibility, enabling brokers to continue their work seamlessly while traveling. This mobile-friendly approach allows them to manage and monitor placements from anywhere in the world.
The introduction of Jireh Connect ushers in a new era of efficiency for reinsurance brokers, says Salvatore Tucci. We wanted to create a platform that enhances the existing reinsurance broker process rather than supplant it. That’s why Jireh Connect is designed to be complementary to established practices in the market, ensuring its effectiveness even when customers prefer traditional communication methods.
In addition to its efficient placement management system, Jireh Connect offers real-time analytics, empowering clients to make informed decisions and strategies. The platform also streamlines post-bind processes by integrating data into existing systems, improving overall operational efficiency.
As part of Jireh Holdings, founded by Salvatore Tucci in 2023, Jireh Connect is closely aligned with Jireh Risk Advisors and Jireh Re (SAC) Ltd. Jireh Risk Advisors provides risk advisory and technology solutions, while Jireh Re (SAC) Ltd. underwrites reinsurance risk on a collateralized basis for investors.
With plans to introduce more features based on market demands, Jireh Connect is poised to revolutionize the reinsurance industry. The platform’s user-friendly and efficient approach, coupled with its integration of real-time analytics, makes it an attractive option for reinsurance brokers worldwide.
As the digital era continues to reshape industries, Jireh Connect sets a new standard for reinsurance placement management. Brokers now have an innovative tool at their disposal to streamline operations, enhance efficiency, and ultimately deliver better results for their clients.
