Arch Re Facultative is a member of Arch | Re formed in April 2007 to focus on property facultative reinsurance. Arch Re Fac services clients on a worldwide basis through operations in the United States, Canada, and Europe.
By its very nature, facultative reinsurance programs involves a considerable amount of information processing based on complex rules and decision workflows. An automated solution—a portal—to verify and quote prices was required to provide external underwriters convenient access to this offering. At the same time the portal had to be flexible to support the changing business requirements and needs of the company’s clients. “What we needed for the reinsurance programs business – and before many client companies would even consider our proposal – was an online mechanism for clients to report the risks subject to a contract.” says Philip Augur, Chief Operations Officer at Arch Re Fac. A new, customizable self-service portal would be central to Arch Re Fac’s program business, as it provides underwriters and clients the information they need on a timely basis.
The application, the “Program Portal”—later rechristened “Archway”—allows Arch Re Fac to configure new reinsurance programs based on their clients’ unique characteristics and pricing structures quickly and easily. Once a program has been created, the respective underwriters and their managers have access to an array of functions through Archway, giving them a one-stop-shop for management and processing of these products.
Underwriters can easily submit a new risk and have the application automatically verify whether or not that risk fits the terms of the associated contract. Complex workflow rules designed in the Mendix App Platform enabled the team to build logic that would instantly provide pricing if the risk fit the terms of the contract, enabling a faster submission and binding process for Arch Re Fac’s clients. In 2013 Finaps has taken over the support & maintenance and future development activities regarding Archway. “Finaps combines the requisite platform knowledge with a client-focused service-oriented approach that makes them very easy to work with on a go forward basis,” explained Scott Chin, Director of Administration at Arch Re Fac.
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