SOURCE: OnRisk Inc.

March 08, 2016 06:00 ET

OnRisk Accelerates Innovation With Its New App, Distribution Tree ™

Advanced Placement Visualization for Commercial Brokers, Buyers and Carriers

PRINCETON, NJ--(Marketwired - March 08, 2016) - Insurance tech startup, OnRisk, today expanded its cloud-based platform for visualizing and structuring complex, high-value commercial risks with Distribution Tree, a ground-breaking tool for graphically representing and analyzing risk transfers from buyers, through brokers, to carriers. Distribution Tree allows users to see, at a glance, how different elements of risk towers are placed, through one or more brokers, with multiple insurance or reinsurance carriers. Users can review placement status, or analyze alternative distribution strategies, in seconds, without slogging through email chains or pages of spreadsheets. Distribution Tree complements OnRisk's initial beta product, Jigsaw Tower, which is currently available to commercial, wholesale, reinsurance and ILS brokers as trial subscribers.

Commenting on the new application, OnRisk CEO Frank Sweeney explained, "Our earlier app, Jigsaw Tower, provides online tools for structuring risk towers, while Distribution Tree organizes distribution for a complex placement. In this way, our clients can interact with each high-value risk from multiple, graphical vantage points."

"This application brings deal distribution into sharper focus, and places it at the center of each complex risk placement," continued Mr. Sweeney.

Using Distribution Tree, a broker can build an interactive graphical representation of a multi-level distribution network by linking transacting parties, such as correspondent brokers or carriers. Once a network is formed, a user can track the status of any carrier proposal, and monitor the aggregate capacity for each carrier included in a risk tower. Another feature provides a geographic snapshot of the risk location, and the global distribution network used to place a complex risk.

OnRisk COO John Kelley added, "The announcement of Distribution Tree demonstrates OnRisk's commitment to meeting the evolving needs of users across the risk transfer chain quickly. We will continue working to realize our vision of bringing greater efficiency, transparency, accountability, flexibility and effectiveness to the entire industry."

About OnRisk

OnRisk is an insurance tech startup launched in May 2015 to develop cloud-based software services for the $800bn global P&C commercial re|insurance industry. OnRisk placement solutions allow brokers, buyers and markets to visualize and structure complex, high-value risks, and speed their placement in the global marketplace. Visit www.onrisk.com to learn more about OnRisk and its products.

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