American International Group, the US-headquartered insurance giant, has chosen a system from e-commerce technology provider eReinsure for facultative reinsurance buying at its member companies.
Igor Best-Devereux, the chief executive officer of eReinsure, said: "We consider this a milestone for our company.
"The adoption of our platform by AIG member companies shows that buyers of reinsurance recognise significant value in negotiating and binding transactions using web-enabled technology."
AIG senior vice-president for reinsurance Chris Milton said: "eReinsure is a natural complement to the Global Reinsurance system strategy that has been underway at various member companies of AIG.
"The market has needed this type of technology to reduce transaction cost and improve management information."
