With an ultimate goal of onboarding 97 brokers handling $120 billion of premium on its platform, a new entrant in the world of broker analytics offers carriers a clearer window into relationships with national and regional distribution partners.
Executive SummaryRiskMatch is gaining traction in the world of broker analytics—offering carriers a new window into relationships with national and regional distribution partners, according to Founder and CEO Kabir Syed. Syed, who previously created MarketConnect, and Chief Marketing Officer Adam Kagan take Carrier Management on a tour through RiskMatch dashboards, which capture opportunities by intermediary, by product, by industry and even reasons for losing business. In the process, they explain what's in it for carriers seeking growth in the middle market on single-carrier placements not available from global brokerage relationships.
Kabir Syed, the founder and CEO of RiskMatch, is the innovator behind the new system designed to ease the placement process for both carrier and broker users and to provide valuable business intelligence to both sides. Syed, who previously created Marsh’s MarketConnect system, explains that his latest creation—like MarketConnect and Aon’s GRIP platform—allows carriers to define their business appetites and to access reports about where they’re winning and losing business.
But what those prior systems don’t provide are insights into $120 billion of business that falls within their appetites but is placed by brokers other than Marsh, Aon and Willis.
“The portfolios of the big three are very multitiered,” Syed adds, explaining that the large global brokers buy huge amounts of limits for their clients with multiple carriers on every policy structure. For excess carriers, that means pricing is going to be based on the primary rating.