0203 507 0033
0833 757 0134Guy Carpenter
Guy Carpenter partnered with Geeks to revolutionise reinsurance bidding, creating a transparent, real-time online auction platform that boosts efficiency and compliance.
About Guy Carpenter
- Sector: Insurance
- Size: 11-50
Guy Carpenter is a global leader in risk and reinsurance solutions, operating as a part of Marsh & McLennan Companies. Founded in 1922, the company has a presence in over 60 offices worldwide, with more than 2,300 professionals.
Recognised for its expertise in broking, strategic advisory, and industry-leading analytics, Guy Carpenter was awarded Reinsurance Broker of the Year at the Intelligent Insurer Global Awards in 2015.
I want to congratulate everyone involved in this – it truly is genius in its transparency and simplicity. The platform is incredibly intuitive, which is critical with any new technological solution. I am excited to see the effect it will have on our continuously changing industry. It truly does look like a revolutionary product.Read the story
Otto Beyer
Senior Actuary and Product Owner
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The challenge
The reinsurance market enables insurance companies to distribute risk by securing coverage from other firms. As the industry evolved, Guy Carpenter identified an opportunity to enhance efficiency and transparency in the reinsurance bidding process.
The company also needed to comply with increasing regulatory requirements. To capitalise on this opportunity, Guy Carpenter sought an innovative solutions provider that could elevate and deliver on this vision to streamline auction-based placements for reinsurance contracts.
The solution
Geeks Ltd developed a cutting-edge, real-time online auction platform tailored to the needs of the reinsurance industry. The solution was built using an Agile Development approach, ensuring flexibility and alignment with client priorities. Key features of the platform included:
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Role-Based Multi-User System: Secure access management for different stakeholders.
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Real-Time Bidding & Notifications: Instantaneous updates to ensure transparency and competitiveness.
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Audit & Compliance Features: Full traceability of bids and transactions for regulatory adherence.
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Data-Driven Insights: Interactive dashboards and graphical representations to track bid evolution.
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Seamless Integration: CRM, third-party data sources, and email notifications for an enhanced user experience.
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Customisable Settings: Multi-currency, exchange rate adaptability, and timezone configurations.
Using our award-winning VisualSpec™ development software, we engaged in a highly collaborative process with the client. This involved iterative workshops and interactive wireframing, allowing for continuous feedback and refinement of the platform.
The impact
The successful implementation of the platform transformed the reinsurance bidding process for Guy Carpenter and its clients. Key benefits included:
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Enhanced Efficiency: Streamlined auction setup, participation, and management.
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Improved Transparency: Clear visibility of bid progression and competitive positioning.
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Regulatory Compliance: Robust audit logs and compliance features ensuring industry standards are met.
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User-Centric Design: Intuitive interface that facilitates easy adoption and engagement.
Used services
Bespoke Software Development
Develop custom solutions that grow with your business and adapt to changing requirements
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Wireframing/UX Design
Transform your digital presence with Interactive Wireframing and expert UX Design
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Systems Integration
Systems Integration brings your systems together with a single source of data.
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Digital Diagnostics
Develop a strategic roadmap and a comprehensive plan to guide your AI initiatives towards success
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Book a Free Consultation
with Geeks
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You'll love working with Geeks if…
- You're a changemaker
- You're not afraid to explore new ideas with a proven partner
- You treat technology as an investment
- You're eager to disrupt your industry with technology
If you prefer, you can book a meeting with us directly
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