BPL Global, specialist Credit and Political Risk Insurance (CPRI) broker, has further consolidated its position as the resident expert in the CPRI market with the release of its latest innovation, BPL Sphere – a new platform designed to give clients full and immediate visibility to their CPRI portfolio and exposures across their global operations.
The platform, which BPL Global has developed and refined over the last twelve months, is believed to be the most sophisticated of its kind in the market, and comes in response to the growing demand among clients for sleeker, more holistic tools with which to analyse and utilise their insurance data.
The multi-faceted platform gives clients access to all their CPRI data through a single, user-friendly 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 tool is designed 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.
James Esdaile, Managing Director at BPL Global commented, “We are delighted to bring BPL Sphere to the market as the new cutting-edge of client servicing capabilities. From transactional flow to counterparty risk management, this tool provides real-time data that has a myriad of uses throughout our clients’ organisations.”
Indeed, through the platform, clients are able to “slice and dice” their data according to their individual needs, as well as extract it to use elsewhere within their management, systems, and operations. BPL Sphere permits unparalleled visibility across clients’ country and counterparty exposures, active policies and corresponding endorsements, invoices payments and claims. Statistical data, together with copies of bound policies and endorsements, can be exported from the platform for clients’ own internal needs, whether that be for their front, middle or back office functions.
“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”, added 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.”
Several clients are already enjoying the benefits of BPL Sphere, and BPL Global continues to roll-out the platform across its client base, with its expert team of brokers on-hand to support new users navigate the tool.