Brokers

As a busy reinsurance broker having to queue up for hours to get underwriters to sign off your slip is a frustrating, and sometimes futile exercise. This problem can be overcome, thanks to Yellowblox.com - an easy to access and straightforward to use communication tool for insurance professionals.

Yellowblox, the insurance communications hub, is a helping hand which can make a reinsurance broker's job quicker and easier to do. Reinsurance brokers, used to carrying heavy bundles of paperwork around Lloyd's, can now save time because changes, referrals and approvals can be made online.

The bespoke Yellowblox system cuts out the bulky paper trail - leaving an electronic footprint from start to finish which can be accessed on-line 24 hours a day. With Yellowblox there is a clear, auditable trail of every query and change that is detailed enough to satisfy global regulatory bodies.

Via the email alert function, all concerned parties - brokers, underwriters, lawyers and third parties - are made aware of the update and can simultaneously view the contract, policy or a claim. Queries can be dealt with instantly and changes made.

Yellowblox - key benefits to brokers:

• QUICKER SETTLEMENT OF CLAIMS

  • The flow of information goes directly from the client to the underwriter which leads to quicker decision-making on claims.

  • Brokers can see all correspondence as it is being processed, allowing for improved turnaround times for special acceptances, policy referrals and claims, improving service, so clients and underwriters are kept happy.

• FULL AUDIT TRAIL

  • Paper files are no longer needed because your audit trail is complete. There is a full repository of contract history which creates a comprehensive electronic document trail.

  • Yellowblox also promotes openness from all parties as all communications are recorded.

• LESS ADMINISTRATION LEADING TO COST SAVINGS

  • Standard and customised bordereau quarterly reports can automatically be generated and e-mailed to all the parties. You no longer have to produce them and take them round in person, a value-add for you as a broker, giving a better service to underwriters and clients.

  • Time saved on administration will enable you to focus on more profitable activities such as building client and underwriter relationships.

• SECURITY

  • Yellowblox.com is a secure site with full firewall protection, so there is no need to worry that any unauthorised party will be able to access your data. Username password authentication and database server are kept on separate servers

• SPEED AND ACCURACY

  • The Alert function ensures that every time something happens on a contract, an email alert is issued and everyone is kept informed.

  • You can find anything within the system using the search function ensuring you can find information quickly without visually scanning documents.

  • The more efficient process helps improve both speed an accuracy which in turn cement broker's relationships with clients and underwriters and helps comply with FSA guidelines.

• EASE OF COMMUNICATION

  • The instant transfer of information cuts out the need for lengthy queuing for face to face meetings to have claims and policies signed off.

  • 24 hour access to the Yellowblox system makes cross-time zone communication much easier. Yellowblox works especially well for brokers with clients in America or the Far East. If a client inputs something into the system, by the next day it can be there awaiting action and processed.

• INDEPENDENCE

  • Yellowblox is an independent company that is not owned by any other player in the insurance or reinsurance industry, ensuring a neutral platform.

• FLEXIBILITY / CUSTOMISATION

  • Yellowblox can create a bespoke workflow which matches the specific needs of a particular contract, company, or client and matching existing workflows creates minimum interference.

  • Bespoke formsmake it easy to customise the look of data entry or data display. The broker can have any fields, in any order, with any restrictions, mandatory fields, and drop-down boxes as needed on a Yellowblox-generated form. The data input then becomes much easier - and the client sees a much better return for their investment.

  • There are a series of standard reports for most contracts which are available at any time to help you evaluate your contract in any way you want to. Yellowblox can also offer customised reports that can be designed in any format offering complete control over your information