The Web portal, FAConnect, is designed to bring the broker marketplace to clients’ computer desktops, allowing them to quote and bind their unique facultative risks in less than five minutes through a straightforward user interface.
FAConnect provides a choice of global markets, and is designed for high-volume transactions, where frictional costs have traditionally made it uneconomical for intermediaries to participate in the sector.
Six product lines have been made available to Aon Benfield clients at launch: Auto Liability Carve Out, Commercial Property, Terrorism, Homeowner's, Contractor's Plant and Equipment and Tourism Legal Liability.
FAConnect users simply log-on and input the risk data to receive an automatic quote from their pre-negotiated market of choice. When the risk is accepted, a Fac Summary Page is generated, detailing coverage, limits and premium information.
Facilities are monitored in real-time to track and report on underwriting rules, overall activity and production. Bordereaux, management reports and other production reports are also available, and first notices of loss can be processed through FAConnect by Aon Benfield claims teams.
