RMT's First Platform Application...
Q2C Stop-Loss Insurance
We drive business lead opportunities
Let’s face it--the reinsurance quoting process is far from intuitive. Managing it is time consuming and cumbersome. And, on top of that, there’s a lack of transparency. Ringmaster exists to break down those barriers. We are the first and only platform of its kind that brings brokers, carriers, TPAs and employers together. We visualize the process, automate it and remove the paperwork. It’s as simple as that.
Simplify the underwriting process.
One screen is all you need to manage requests and quotes. You’ll be able to easily navigate your potential business and select the appropriate risks and capacities. You’ll streamline your communication because all chats with reinsurers are linked to the corresponding risks.
Connect to reinsurers instantly.
RMT provides an online marketplace. Simply submit risks using our electronic forms. You’ll only need to send vital information. There’s no need to send individual requests to reinsurers. You’ll get immediate access to reinsurers that already operate in the marketplace.
Discover the best deals faster.
Stay engaged with the only deals that are relevant to you through our advanced filters. You’ll also be able to collect statistics and use them to better understand your business patterns – leading to better deals today and in the future.
We simplify, connect and discover.
Integrations and ease of access with other applications are a pillar of our software architecture. We not only publish APIs for our customers to use, we also use those exact same APIs within our own User Interface. This allows our customers to use our user interface to interact with the underlying data and/or use our exposed RESTFul APIs. This is an important factor when considering a solution. Solutions that lack APIs will create data silos across your applications and an inability to integrate with your existing solutions.
Building something better with blockchain.
This is next level automation and connectivity.
Because we build our systems with blockchain applications, we’re able to streamline critical business processes. It enables us to bring real time collaboration and smart contract intelligence to every client we serve. Our state of the art architecture reduces processing time and increases accuracy. At the same time, it’s able to eliminate revenue losses by increasing transparency. We’re here for your long-term success – and blockchain allows for just that.
RMT’s platform has been built to allow for complete out of the box customization to match our customer’s existing business process. At the core of this concept is our forms designer. Using our designer our customers can create their own forms to match their contract request needs. This flexibility allows us to mimic the current paper forms being used by our customers today thus eliminating a lot of the learning curve to adapt to our technology. Our forms also have built in data validation. If you drop a date field on to the form, we can ensure it will always be entered in the proper format MM/DD/YYYY or DD/MM/YYYY or whatever format you prefer.This ensures all parties are seeing and working against the same assumptions and helps both parties come to terms more quickly. Don’t worry, creating forms is as simple as dragging and dropping fields onto the screen. You don’t have to be a rocket scientist to be an expert!
The entire purpose of the RMT solution is to automate business processes that are often laborious and manual in nature. The way we automate those business processes is through
workflow. Our workflow designer is built to allow you to build the automated process to match the manual process you are using today. Your workflow should mimic your current business process while taking advantage of all the automation RMT has to offer. This may include the creation of multiple steps with decision nodes between steps or notifications to internal or external stakeholders or a combination of all of the above.
We at RMT believe that data is king. Throughout the quoting and contract process there are multiple interaction and touch points that are all tracked and maintained in our platform. This data combined with the post close data like prescription benefit information, claimant information and general customer relationship management (CRM) information can be very powerful if you have the ability to search across all of it in one combined interface. Luckily, that’s exactly what you can do using RMT’s Filter Brick technology. You can use it to determine who gives the best prescription benefit pricing based upon the type of employees you are trying to insure. You can use it to find out which of your employers have the highest Opioid usage or figure out which contract types you win most often. The possibilities of the advanced analytics are endless.
RMT understands the need to integrate multiple business applications together. This includes the RMT Quote to Contract platform. The RMT Connector allows us to provide an Electronic Data Interchange to consume and exchange data between disperse line of business applications. We provide the ability to connect with adjudication platforms, PBM platforms,ERP systems or any other line of business application. The RMT Connector uses a wide array of technologies to accomplish this. They include: RESTFul APIs, FTP polling, email integration and file exchange and transformation. The connector helps tie all of your applications together to ensure you have all the data you need at your fingertips.
One of the founding principles behind the RMT platform is the usage of blockchain smart contract technology. Smart contracts allow us to automate tasks that usually require a third party. Removing the third party allows for time and cost savings because everything is written into the blockchain. When a contract is about to expire the blockchain can send an automated notification. If a deductible has been met the smart contract in the blockchain can audate all the third-party systems necessary. The engine is extremely powerful and is at the heart of our workflow. The RMT platform has been built to be blockchain agnostic. As the industry grows and new technology is created the RMT platform will be ready to adapt.
All smart contracts that are published to the blockchain will be monitored and visible using RMT’s blockchain explorer. The explorer allows our customers to see all the data and workflow transaction of their deployed business processes. End users can even save filter brick style queries that can be used to integrate with the blockchain explorer. An example smart contract query using the explore might be “Show all claims generated in Kansas within the last month that contained an Opioid prescription that caused the claimant deductible to be met”. The purpose of the explorer is to take the mystery out of the blockchain. Everything is immutable and transparent to all participants of the transaction. Transparency is key to understanding the technology behind the scenes.
Getting from the end to end quote to the contract process isn’t always easy. After all, there’s lengthy processing times and entire ecosystems to work through. That’s where RMT’s Quote2Contract (Q2C) comes in. It was created to streamline the process and, in turn, lead to optimal cost savings. With CRM integration, custom document building, RFQ submission and contract management tools in place, we’re taking the pain out of finalizing contracts.
How does it work?
Our system auto populates and securely stores all your critical data – giving you the ability to create a client specific RFQ. From there, our platform will automatically auto populate all pertinent data and execute real time B2B quoting.
What will you gain?
You’ll get a digital comparison of your quotes. This will lead to more efficient negotiations, increased transparency and more available auditability. And that’s a win-win for all parties involved. They’ll be able to chat, make changes and update documents in real time.
When is your next contract renewal? When does your newest contract become effective? What are the deadlines you need to meet? It seems like you have to ask yourself these questions daily – until now. RMT’s Smart Contracts are designed to have your back throughout the contract lifecycle.
How does it work?
Smart Contracts is designed to securely store all your vital contract data. Put Smart Contracts to work to effectively manage, reference and analyze all your contractual information. From term updates to digital signatures everything will be housed in one place.
What will you gain?
You’ll stay up to date on effective contract dates. You’ll stay a step ahead when it comes to renewals. Designed with enhanced managerial capabilities, you can count on Smart Contracts to help you improve productivity and realize greater efficiencies throughout the life of the contract and beyond.