The UK retail insurance market is constantly changing, and as margins narrow, the credit crunch will inevitably mean more regulatory compliance. Insurers must balance cost versus service and decide what processes to outsource, offshore or delegate. The missing link has been a strategic approach to automating business processes across the enterprise and beyond to intermediaries, claims management specialists and outsourcers. Workflow solutions have been piecemeal, limited in application and not well connected to existing systems. Using the Internet to enable fast, secure sharing amongst internal staff and business partners has yet to be effectively exploited by many market players.
Vertafore’s ImageRight solution has revolutionized the United States insurance market across insurers, MGA’s and agents/brokers by creating a flexible electronic file at the beginning of the insurance process—quote, underwriting, renewal, endorsement or claims. London Market underwriters and brokers can benefit from this practical approach of replicating their preferred way of working, but with significant time savings and improved productivity and service. ImageRight works with a wide range of partners linking to London Market electronic communications and Xchanging initiatives.
Vertafore specializes in insurance, and therefore understands your business processes and mindset. Solutions can be installed in weeks and a return on investment can be achieved quickly through rapid process improvements and gains in time and efficiency. Vertafore—an ACORD member—is the leader in agency and MGA administration systems in the U.S. and is an expert in providing connectivity solutions. Promising gains in productivity, efficiency and cost reductions, and delivering on that promise is one reason that each of the more than 450 insurance organizations that use the ImageRight solution—40% of which are MGAs—are happy to be a reference for the product. The ImageRight implementation team has never missed a go-live date or exceeded a budget.
For more information about the ImageRight solution for the general UK market, call 020-7816-7109.