Stripe Global Services
The Post-Placement Technology Specialist
Faster process. Greater control. Reduced risk.
The commercial (re)insurance industry suffers from operational inefficiencies that have a significant influence on competitiveness and profitability. Re-keying, data accuracy and extended processing timeframes all lead to inflated operating costs, and the market is shifting towards electronic platforms to deal with these challenges.
How Pro Global Helps
STRIPE® delivers a highly efficient re-engineered process for all participants in the value chain. It is a web-based allocation and distribution platform for all post-bind transactions that streamlines processes, reduces cost and improves cash flow, providing a single point of access to transform and transmit data using ACORD standards, Bureau messaging, interactive emails and 24/7 web access. Since launch, the global user community has grown to over 400 entities exchanging tens of thousands of transactions each year.
Why choose STRIPE®?
STRIPE® streamlines and simplifies the management of ceded reinsurance through agile distribution, process transparency and direct settlement of premium and claims.
STRIPE® transforms data and delivers messages in the required format, reducing manual intervention, duplication and error rates, improving process efficiency with cost savings of 30%+ and better service to brokers and clients.
STRIPE® ends traditional costly back office processing, accounting and money handling, allowing brokers to focus on high-value client activities.
Shortened processing cycle times through automation and integration; simple to implement with no impact on IT infrastructure; no constraints on processing or data capacity; hosted and managed to the highest standards of security with controls maintained in accordance with ISAE 3402.
A credit control interface to simplify reconciliation, bespoke dashboards delivering management information, and immediate digital message delivery that is secure, evidenced and auditable.
STRIPE® is hosted and managed by Stripe Global Services Limited, an operating subsidiary of Pro Global Holdings Ltd, the global service provider focused solely on the (re)insurance industry.
A Simple Proven Review Process
STEP 1:
Onboard
Simple deployment with no impact on your IT infrastructure, joining a global community of over 400 insureds, reinsureds, brokers and carriers.
STEP 2:
Transform
Post-bind transaction data is transformed and transmitted using ACORD standards, Bureau messaging and interactive emails.
STEP 3:
Allocate & Settle
Premium and claims are allocated and distributed to all participants with direct settlement and full process transparency.
STEP 4:
Reconcile & Report
A credit control interface simplifies reconciliation while bespoke dashboards deliver management information.
What you can expect
Unique technology for the whole value chain
STRIPE® offers unique technology to insureds, reinsureds, brokers and carriers for premium and claim management. Its growing global community collectively exchanges tens of thousands of transactions each year, with the assurance of ISAE 3402 controls and the highest standards of security.
Features
- Rapid processing: shortened cycle times with automation and integration.
- Easy deployment: simple to implement, no impact on IT infrastructure.
- Fully scalable: no constraints on processing or data capacity.
- Clear financial data: credit control interface to simplify reconciliation.
- Powerful analytics: bespoke dashboards delivering management information.
- Digital communication: immediate, secure, evidenced and auditable message delivery.
FAQs
A web-based allocation and distribution platform for all post-bind (re)insurance transactions, providing a single point of access to transform and transmit data.
Over 400 entities including insureds, risk managers, cedants, brokers and carriers, exchanging tens of thousands of transactions each year.
ACORD standards, Bureau messaging and interactive emails, with 24/7 web access.
Simply, with no impact on your IT infrastructure and no constraints on processing or data capacity.
STRIPE® is hosted and managed to the highest standards of security, with controls and procedures maintained in accordance with ISAE 3402.
