Part II: How Insurance Company in the U.S Choose a Reinsurance Company

This post is related to " How Insurance Company in the U.S Choose a Reinsurance Company"

Of particular interest is the six of the top fifteen factors closely associated with interpersonal relationships, proving that when the market is already have a very complex interpersonal relationships remains an important factor because company's ranking in the U.S. is very important because it will affect the position of the enterprise in the capital markets which will lead to financial performance.

The sixth factor relates to whether the underwriters of the reinsurance company has sufficient authority or is it still too often to seek approval from his superiors.

The order of the sixteenth to thirty are factors about the ability of a reinsurance company to produce products that may be required by the insurance company. This includes innovative new programs (no. 17) and provide solutions that are not common (no. 24).

On the role of the reinsurance broker, there is only 19% of insurance companies will always use a broker in placing their reinsurance, 25% would rather do it myself and it turned out almost 30% of insurance companies in the U.S. do not have a preference whether to always use a broker or not getting anything at all for their business.

Amid conditions where reinsurance brokers merged and consolidated, they showed increased role in the American market. But an increasing number of reinsurance premium is not channeled through the broker lacks the increasing role of brokers as providers advises to insurance companies. More insurance companies require broker reinsurance market because they know very well, not because of their ability to give advice on how to run an insurance company (one of the functions is a trend of brokers in the USA).

One of the most desirable condition by insurance companies in the United States is a condition in which a reinsurance company willing and able to understand the philosophy of underwriting, claims and goals of their company.And this may be acquired if the approach taken by the re-insurer conducted in a approach as a valuable partner and not as a seller and a buyer.

Part I: How Insurance Company in the U.S Choose A Reinsurance Company

The factors which affects the insurance companies in the United States for choosing the reinsurance companies are as follow:

- The reinsurance is financially secure
- Trustworthy
- Easy to work with

- Open to negotiation
- Consistency of underwriting decisions
- Competitive Price
- Always give choices
- Good grades according to the Rating Agencies
- Providing genuine concern
- There's collateral claims settlement
- Authority underwriter
- Underwriters are easily to be contacted
- Consistency prices
- Speed ​​in the handling of documents
- Low interaction cost
- Superior in business Casualty
- Have programs that are creative and innovative
- It has a large capacity for business Casualty
- Have the capacity to provide Integrated Products
- Having a good quality of claims settlement
- Having a skilled and flexible staff
- It has a large capacity to the Property Catastrophe
- Having the ability facultative high
- Having the ability to do all the courses
- Providing solutions that are not public
- It has a capacity of multi-line
- Can provide a turn-key products
- It has the capability of modeling
- It has a high capacity for business property
- Having a reliable actuarial
- Respected by brokers
- It has a large capacity for business property
- Having actuarial data well
- It has the ability of dynamic financial analysis

More details are to be updated on to the next post.