Fac rollout for RI3K
Electronic data transfer platform RI3K has announced the delivery of a new facility, allowing placement and transfer of facultative risks, in addition to its existing treaty transfer capability.
The module is compliant with LMP standards and once live will handle international property and marine, as well as US life retrocession business.
Observed RI3K CEO Alex Letts: “This is the logical extension. Treaty and Fac now sit on one community platform. It’s seamless for users.
“I’m sure there will be bits we can extend or improve in the future – for instance, we still need to add lineslips and binding authorities. But the market and Lloyd’s, in particular, should recognise that contract certainty for the complete reinsurance spectrum is now supported at the end of the browser of any user who really wants it.”