21 July 2016Analysis

SIM Global Markets introduces self-insurance inquiry platform

SIM Global Markets has updated its B2B self-insurance inquiry platform on its website, selfinsurancemarket.com (SIM) for companies seeking to self-insure or companies seeking new partners.

The website covers several types of self-insurance, including employee benefit trusts, self-insured workers’ compensation, self-insured retentions, captive and mutual insurance.

The relaunched website has several new features including a business inquiry services that allows companies and their employees to post inquiries and canvas other companies when they are seeking assistance, either for their own insurance programs or for those of their clients.

The site has also introduced search facilities to allow anyone to search for companies or individuals by type of self-insurance, category and geographic area and then send an email inquiry directly to their chosen partners.

Dominic Higham, managing director of SIM, commented: “I like to compare the changes we’ve made to other internet success stories such as internet dating which has been extraordinarily successful in bringing people together and creating new relationships that might not otherwise have existed. Our new business inquiry service and search facilities have a similar approach and allow any company seeking a self-insured solution or self-insurance professional to post a business inquiry to which other companies can respond. When this service was trialled, we had numerous cases where our members established new contacts and developed trading relationships with companies that they would otherwise not have met.

“As a former reinsurance broker, I understand the challenges often faced by professionals and buyers when seeking partners for insurance programs and how important business relationships and contacts can be. SIM has been relaunched to help people find new partners to for self-insured solutions as well as providing information about the main types of self-insurance.

“Other features of the site include guides to self-insurance, a job centre and a facility for member companies to post updates about their services. Companies and individuals can also create their own listing and description with a unique URL.”