RWX is a cloud-based project management tool specifically designed to deliver speed and execution to all parties (clients/lawyers/insurers/brokers/etc.) in the RWI policy placement process.
"The insurance industry in general has been notorious for offering low client engagement and significantly lagging in tech adoption. However, as millennials are quickly becoming key decision makers within the M&A ecosystem, clients are increasingly expecting on-demand user experiences with greater control and transparency," Sanderson explained.
The RWX platform provides an RWI tracker for the 25 steps across 6 stages of the placement process (see video). RWX also doubles as a shared virtual data-room for the storage and exchange of documents for active placements as well as instant insights into all historical projects for program management and critical decision making. The benefits of RWX to clients and other stakeholders include unprecedented transparency into the RWI process, enhanced collaboration/control via the shared platform, instant access to key documents, and data storage/compliance auditing functions.
"Simply put, RWX is the future of RWI and we are very pleased to be on the cutting edge of the industry," said Tray Traynor, M&A Practice Group leader at Sterling Seacrest Pritchard.
Currently, access to RWX is only available via M&A Insurance Solutions and Sterling Seacrest Pritchard.
The RW Exchange [www.RW-Exchange.com] is the only digital R&W/W&I delivery platform in the world. RWX provides a real-time underwriting tool offering 100% transparency to all stakeholders within the process – delivering the only replicable playbook to manage and track RWI on a programmatic basis.
M&A Insurance Solutions [www.RWpolicy.com] works exclusively with private equity and venture capital funds, target companies, institutional/corporate acquirers, and legal professionals to structure insurance solutions to replace seller indemnities/escrows in M&A transactions.
Sterling Seacrest Pritchard [www.PJins.com] is a full-service, broker-owned risk management and insurance brokerage firm serving the commercial needs of clients across a range of industries including the private equity, M&A and other transactional risk insurance markets.