Catlin Reinsurance

Regarding the insurance industry and global market risks complex subscription which London has built its reputation, the devil is in the details. Whether electronic or paper documentation is the basis of insurance and reinsurance. From the perspective of a client is the most important part of business processes and get a bad document may cause problems or disputes. Since the promise of insurance is based on a written contract, the most important product of the industry is the documentation of policies that establish the criteria for coverage and the basis for payment of claims.

The way records are created has been delayed non-subscription programs carrier market, while being the only element considered by customers. London is rightly moving towards greater use of technology in its treatment, including policy documents and electronic claims.

The need to eliminate questionable formulations remains pivotal in the ability to ensure the accuracy and price risks. It also reduces the number of disputes on the validity of claims that are not only time consuming and costly, but seriously damage the reputation of individual companies underwriting. Automating the process of creating documentation to reduce these costs and risks.

Enter risk details

Key elements are the details of risk. Enter the details right, whether in words or numbers, is vital for business and risk exposure. An automation solution enables effective document capture precise words and data and product quality documentation. Complaints and disputes have shown the dangers of "the production of documents in bulk and brokers and insurers have been forced to meet this challenge not only to satisfy customer needs but also to comply with the certainty of contract code of Practice. Yet how many organizations still rely on the basic packages for word processing to manage complex document assembly through negotiations between different parties in the process?

The technology exists today to provide brokers and insurers of all sizes a solution that allows them to build complex contracts and customized through a user friendly internet service. And the benefits go beyond the mere production of documents. Document Automation helps insurers and brokers to provide business solutions that exceed the time, errors and risks of their development process contract.

Industry Leaders Embrace Document Automation

Global Insurance Broker, Willis Group Holdings, will be using a document assembly software to create documents online slide models via a series of questions. The documents are then rendered in Word files that data can be extracted from or added. Insurers are also able to access relevant data sheet.

Jonathan Prinn, COO of Global Placement Willis said: "As a leading broker representing multi-national clients with the requirements of complex risks, we use a document assembly software to help streamline and accelerate the speed capture data and eliminate errors to improve account management and customer service. A major advantage of the system is that it allows greater control to deliver contract certainty and transparency. "

Similar comments were heard by a major underwriter. Teresa Beach, Head of the Group's transformation Catlin said, "We face competitive pressures globally and as such we need to produce policy documents in a timely and accurate information on local markets to remain competitive ".

The right solution

To be truly effective, a document automation solution must be flexible and able to manage a library of wordings and clauses, and data entry of key contracts as appropriate to different stages of development. He m.