The IPA platform can make international programme delivery more efficient, allowing insurers and brokers to manage structured and compliant international programmes
Swiss Re Corporate Solutions, the commercial insurance wing of Swiss Re, has signed a memorandum of understanding (MoU) with German insurer Württembergische Versicherung to provide International Programme Administration (IPA) solutions to brokers, network partners and other insurers.
The IPA solutions will enable the users of Württembergische Versicherung to manage and deliver structured and compliant multinational programmes from a single platform and also offers insurers access to its international network of offices and partners.
Launched by Swiss Re Corporate Solutions last year, the IPA platform was selected by broker network Brokerslink and insurer LocalTapiola earlier this year. The platform uses technologies to deliver programmes more efficiently and improving the customer experience.
The IPA platform also automates the issuing Swiss Re Corporate Solutions’ local policies in a globally standardised property policy ONE Form. This benefits customers through increased contract certainty and faster processes.
Swiss Re Corporate Solutions CEO Andreas Berger said: “Our collaboration with Württembergische Versicherung is another milestone in our pursuit of an open market standard that eliminates inefficiencies and administrative frictions and provides a better customer experience.
“We are honoured to support Württembergische Versicherung in simplifying international programmes for its customers and advancing corporate insurance together.”
The collaboration can help German insurer pursue growth of corporate business portfolio
Through the collaboration with Swiss Re, Württembergische Versicherung can also pursue growth ambitions of its corporate business portfolio and take lead positions for international programme business and support its clientele worldwide.
From 1 January 2021, the German insurer will gain access to Swiss Re Corporate Solutions’ IPA platform.
Württembergische Versicherung board member Jens Lison said: “We are pleased that, thanks to our cooperation with Swiss Re Corporate Solutions, from 2021 we will be able to offer our customers international insurance solutions for their business activities abroad even more independently than before.
“This improved offering will be made possible through the network and the program platform provided by Swiss Re Corporate Solutions, which we will soon start using.
“This new cooperation will enable us to consolidate and expand our existing customer relationships and continue to develop new business opportunities within the medium-sized to large enterprise sector.”