Ruschlikon broadens its footprint and receives further recognition
Ruschlikon is a global community of insurers, brokers and reinsurers.
2014 was an exciting year for new Ruschlikon implementations. The Ruschlikon Group created more than 25 new partnerships in Bermuda, North America, the UK, Europe and Asia.
Today, the global Ruschlikon community:
- Comprises more than 45 companies, and does business in more than 30 countries;
- Includes more than 25 insurers and reinsurers and 6 brokers, which together represent a large share of business, including 75% of the global Property & Casualty reinsurance book;
- Exchanges administrative messages electronically, with regard to around 15% of global P&C reinsurance and 65% of UK commercial insurance.
In 2014, Ruschlikon also reinforced its footprint among large insurance groups. Following on from AIG, XL, The Hartford and others, AXA Global P&C and Mapfre Re recently joined the Ruschlikon community and have started to exchange reinsurance accounts electronically using the Ruschlikon Lite process, which allows organizations to use their own electronic format to exchange ACORD messages without having to invest in new technology or a new messaging format.
“Based on what we have achieved with SCOR in terms of electronic message exchange, we are now looking forward to expanding our perimeter to other reinsurers and brokers in the Ruschlikon community”, says Olivier Zamora, Deputy CFO at AXA Global P&C.
Daniel Quermia, CFO at Mapfre Re, adds: “Starting Ruschlikon Lite traffic with two reinsurers, we will enhance our back office messaging capability towards a fully automatic environment, to capture the benefits for intra and intergroup business.”
Ruschlikon is well on its way to achieving the critical mass required to get the expected accelerated cash and administrative savings. It is playing an increasingly important role in terms of business evolution. This is recognized by the market, as evidenced by Insurance Day naming Régis Delayat, Chairman of Ruschlikon and SCOR group Chief Information Officer, as one of the top 50 global influencers in the industry.
For more information, visit www.ruschlikon.com, send an email to firstname.lastname@example.org, or join our LinkedIn group.
About Rushlikon and ACORD
Ruschlikon is a global community of insurers, brokers and reinsurers. Its primary purpose is to optimize administrative costs and enhance client services. Ruschlikon aims to further automate back office processes by implementing Best Practice Processes based on ACORD message standards for (re)insurance and commercial business. The Ruschlikon Steering Group is composed of AIG, Aon Benfield, Guy Carpenter, Munich Re, SCOR, Swiss Re, Willis, XL and XL Re.
ACORD (Association for Cooperative Operations Research and Development) is a global, nonprofit organization serving insurance and related industries. ACORD facilitates the development of open consensus data standards and standard forms, and works with its members and partner organizations to drive the implementation of those standards.
Learn more about this topic