Aon Benfield, a reinsurance intermediary and capital advisor, has launched ABConnect, a new online portal that offers clients any-time access to their account data, to improve the transparency and reduce administrative burden in the reinsurance industry.

ABConnect portal offers range of account handling features including information on contracts, claims, accounting and payments, and other transactional data.

It also offers easy navigation and search facilities for quick access to core functionality. The clients can log-on to ABConnect via a secure internet browser connection.

The portal also incorporates Aon Benfield’s MarketReView platform which contains real-time data on reinsurer financials, the capital markets, and updates from the rating agencies via data streams from AM Best, SNL Financial and Standard & Poor’s.

Initially, the new facility will be available to the firm’s US clients, and plans to expand the service to rest of the world by later this year and in early 2011, according to the Aon Benfield.

Aon Benfield Americas Operations head Mitch Balter said that ABConnect addresses many inefficiencies that occur in the use of manual processes and paper-based systems and provides readily-accessible information for audit purposes.