All placements follow our proven 11-Step Placement Process that ensures consistent and efficient account handling, supported by our custom-designed secure online application platform, Globex World.
Globex Underwriting Services
- Our Process
- PM reaches out to GUS with general inquiries, i.e. if admitted coverage is required in a certain country, what are the taxes in a certain country, a special coverage in a certain country, etc. and GUS provides information to PM
- PM sends a new submission via our online system Globex World; GUS acknowledges the submission and starts the placement process
- GUS reviews the new submission and responds to PM with questions and requests for additional information
- PM replies with answers/requested information enabling GUS to develop local terms and conditions
- GUS provides initial cost estimate for the program and reviews it with PM
- GUS approaches the network if applicable and provides terms and conditions to the PM
- PM advises GUS when the account is bound. GUS acknowledges the binding order and sends the binding order to NPs.
- GUS works with the local insured/local broker/local insurer to prepare for local policy issuance
- GUS drafts Reinsurance Agreements and obtains fully executed copies for PM's files
- GUS sends out invoicing instructions
- GUS obtains the local policies and sends to PM to review and confirm
- The program is monitored throughout the policy period, and GUS assists with any mid-term requests and changes