FAConnect^SM

Fac Quotes and Binding in Less than 5 Minutes

Many insurance companies have traditionally found small to middle-market or facility-type facultative business to be inefficient, time consuming and costly. Now more than ever, carriers are looking to grow their business without exposing underwriting results to excessive volatility from individual policy coverages.

As the world’s leading facultative broker, Aon Benfield Fac is redefining facultative reinsurance by providing alternative coverage options to help clients accomplish these objectives.

Delivering the Broker Marketplace to Your Desktop

FAConnect^SM is Aon Benfield’s innovative new web portal that enables our clients to easily and efficiently submit risk placements and complete facultative business transactions in less than five minutes. By delivering the broker marketplace to your desktop, you will benefit from easy access, choice, flexibility, and reduction of execution risk.

FAConnect provides a secure environment for ceding company underwriters, brokers and reinsurance underwriters to interact on-line in a nearly real-time environment. Ceding company underwriters can submit, quote and bind individual accounts as part of pre-negotiated facilities. Reinsurance underwriters can review accounts, access bordereaux, and manage reports for all such facilities.

Best of all, FAConnect is available to Aon Benfield clients and markets at no cost.

Unique Features of FAConnect

Customized Landing Page

User dashboards with metrics relevant to the user’s facilities
Links to initiate both a single risk and multiple risks (with an excel template)
Access to user’s risks/policies and corresponding status and premium through
“My Work” tab
“HelpDesk” link to quickly contact the FAConect site administraton

Product Lines

Auto Liability Carve Out
Commercial Property
Terrorism
Homeowner's
Contractor's Plant and Equipment
Tourism Legal Liability

Reports and Monitoring

When the risk is accepted, a Fac Summary Page detailing coverage, limits, and premium information is generated
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 available

Endorsements and Audits

Available endorsements include but are not limited to cancellations and additions of locations or other exposures
All actions are date stamped and changes are recorded, allowing for a very clear audit trail

Referral Accounts / Exceptions

Those accounts that trigger an exception to the pre-negotiated terms of a facility can be quoted, referred and bound with an automatically generated referral to the reinsurance underwriter; clients will receive an email advising of a status change.

Claims Processing

Claims can be processed through FAConnect; the system will accept first notice of loss, which will be sent to the Aon Benfield claims team and processed through standard Aon Benfield channels.