Credit and political risk insurance (CPRI) broker BPL Global has launched a new solution to enable clients to gain visibility of their insurance portfolio and exposures across operations.
BPL Sphere is an online platform that gives clients access to all their CPRI data through a single portal. Dashboards track and display all aspects of a client’s activities, ranging from non-binding quotations, through to bound policies, invoicing and claims, and their portfolio view can be filtered according to requirement – for instance, by country, obligor, cover type, policy status, currency or insurer security.
The broker says that it has designed the tool to give “complete oversight” for risk management purposes, as well as allowing for in-depth analysis of premium spend, insurer relationships and exposures, to streamline internal reporting.
The platform has been in the making over the past 12 months in response to requests received by BPL from clients who wanted to be able to analyse and use their own insurance data.
“Our view has always been that we are custodians of our clients’ data – the data belongs to them and we are there to support them in managing their exposures,” says Sian Aspinall, managing director at BPL Global. “Through BPL Sphere, we are now able to empower our clients by furnishing them with their own data, at new levels of usability. They can leverage this both internally, but also with insurer markets, as a means of getting the most out of their insurance programmes.”
Using the platform, clients can extract their data, as well as with copies of bound policies and endorsements, from the platform to use elsewhere within their management, systems, and operations.
BPL Global says that it is now rolling out the solution across its client base.