Who are you? What is your business?

We are an independent communications platform. We provide professional tools and business network. We strive to connect market professionals and businesses worldwide by providing a professional ecosystem to communicate and the tools to process daily reinsurance workflows.

Is FLY-RE a broker? Does FLY-RE accept risks in reinsurance?

We are not a broker. We do not have any business interests in the risks submitted or capacities offered. We are NOT an intermediary for insurance related business. We provide professional tools and business network.

What services do you provide on the marketplace?

FLY-RE is an online reinsurance marketplace, our services include:
- Convenient tools to find partners by type, limits, location, ratings etc.
- Workflows to do business with new and your partners.
- Automated forms to submit risks and provide quotes.
- Online trading to find and negotiate required capacities.
- Easy tools to place your risk with multiple reinsurers.
- Portfolio management with risk and quote history.
- Live dashboard to monitor your marketplace business.
- Risk filters to receive only relevant business on the marketplace.
- Secure data exchange and confidentiality of information. You can find new contacts and work with your partners using convenient online tools to automate your reinsurance workflows.

How does the marketplace work?

All marketplace users represent some side of this process. So a cedent/carrier submits a risk to the marketplace by filling in a risk profile form and attaching some files. The cedent also selects which reinsurers this risk will be directed to.
These reinsurers receive the risk in their inbox and get notified by email. Each reinsurer may provide a quote or decline your request. You can chat during this process and exchange different files. These files become a part of this risk profile and your final deal. Each latest version of the document must be accepted by both parties to proceed.
The reinsurers would not see each other’s quotes, but the cedent will have a number of options to select from. It is possible to spread a risk coverage among a number of reinsurers. You may also contact each other directly to negotiate things directly. When all negotiations are done with - take the paperwork offline and proceed as you would in your everyday business.

Who uses FLY-RE? Is it meant for carriers or clients?

The marketplace is open to all market professionals with verified profiles (valid ID, represented company, LinkedIn profile). All types of market players may use the service - carriers, insurance and reinsurance companies, brokers, any kind of Lloyd’s company. Users must indicate their type. You will find familiar names in the selection list of potential reinsurers during the process of submitting a risk, but before the actual submission is made. It is possible to select what reinsurers receive your risk offer - all that match risk parameters, by region, rating and/or manually one-by-one from the list.

How do I submit the risk?

It is easy. Just follow the link in the left menu to “Submit a Risk” and select your type of risk. Then fill in the risk profile by providing all the information you would, in a common situation, when offering a risk to a reinsurer. Select your target reinsurers and attach some files. Now wait for the responses in the Outgoing Risks menu on the left (within each particular submitted risk profile). Have a look at our quick tour video to see this process live in a demo.

What types of risks can I place here?

All classes of re/insurance are accepted. Some classes have more detailed forms to describe the risk. All classes support file attachments, quoting and our full workflow from submission of risk on the marketplace to quoting, negotiation and deal confirmation.

Where do risks come from? Where are capacities located that are represented on FLY-RE?

Our service operates worldwide with participating users from different parts of the world. You can find risks here from almost all parts of the world. You will see incoming risk location in the description. Same for capacities. It is possible to configure what risks to receive (by location and other parameters) and you can select a reinsurer from the location of your preference during submission of the risk.

Can other reinsurers see my quote?

No. Only the party who submitted a risk (cedent/carrier) can see the quotes offered for this risk.

Do I need to install any software on my computer?

No. The service and all the tools are completely online.