Reinsurance company Lexasure Financial Group has introduced Atlas, a B2B risk management portal for general reinsurance.
The new portal is being launched on Lexasure’s cloud-driven business-to-business-to-consumer (B2B2C) platform, LexasureCloud 1.0.
Intended to serve as a single point of contact for insurance partners, Atlas will help companies enhance turnaround times for claims processing.
It will also offer a lead management tool for client capturing, tracking, distribution and retention.
Lexasure CEO Ian Lim said: “We are thrilled to introduce Atlas, the first-of-its-kind reinsurance-focused platform designed to amplify business growth and profitability.
“2024 is expected to be a year of growth and transformation for the company. We will continue to realise our digital strategy by completing the migration of our portfolio’s roughly 200 partner brokers and insurers and fully implementing the platform’s expanded capabilities.”
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Lexasure estimates $30m–50m of existing premiums to flow through Atlas as partners are upgraded to the new system.
In 2024, approximately 10,000 policies are expected to be onboarded.
The insurer said that Atlas would provide partners and insurers with access to growth opportunities through its B2B core platform modules on LexasureCloud.
These modules cover reinsurance-as-a-service, policy management, claims management, data and analytics, and financial capital management.
The Atlas platform was unveiled at the Singapore International Reinsurance Conference, which is being held from 30 October to 2 November 2023 in Singapore.
Lexasure is planning to launch Atlas to include automation functions for onboarding, credit control processing, underwriting and treaty agreements with integrated claims handling and customised dashboards for partners.