Amlin Bermuda, Willis E-Accounting Partnership
Willis Limited, the UK broking arm of Willis Group, and Amlin Bermuda, a branch of Amlin AG, a leading independent insurance group, announced the successful launch of a full electronic accounting process between the two companies, using the current ACORD data standard and exchanging messages via TMEL [The Message Exchange Limited).
This is the first Willis implementation of 2013 and its first with a Bermudian company. For Amlin, this is the very first e-Accounting implementation.
Paul Owens, COO for Willis Limited stated: “Our roll-out of e-Accounting as a means to drive efficiencies and improve service is gaining real momentum. This is our first implementation with a Bermuda-based company and demonstrates our desire to increase our e-Accounting coverage as far as possible. Our e-Accounting throughput volumes have increased by 85 percent year-on-year, helping to reduce queries and rework, reduce levels of unmatched cash and improve settlement turnaround.”
Richard Brame, Willis Accounting & Settlement Change Programme Director, added: “Amlin have been a great partner to work with and we look forward to realising the benefits of e-Accounting with Amlin moving forward. We now have ten live e-Accounting carrier partners and are looking to double this by the end of 2013.”
Steve Bardell, Amlin Bermuda’s Underwriting & Operations Manager added: “We anticipate realising almost immediate benefits from weekly premium payments and reduced paperwork. The team at Willis were a pleasure to work with as they guided us through a very straightforward implementation process.”
Willis is an active member of the Ruschlikon initiative, which aims to automate back-office processes and Amlin is a member of the Bermuda Ruschlikon Steering Committee.
Willis Group Holdings plc is a leading global risk advisor, insurance and reinsurance broker.
With roots dating to 1828, Willis operates today on every continent with more than 17,000 employees in over 400 offices.
Amlin plc is a leading independent insurance group operating in the Lloyd’s market through Amlin London and additionally in the UK, Continental European and Bermudian markets.
The Rüschlikon initiative is driven by a group of leading global re/insurance companies, together with ACORD, to further automate re/insurance back office processes — technical accounting, claims, settlement — using ACORD RLC [Re/insurance and Large Commercial] standards.
The Rüschlikon Initiative’s mission is to reshape the re/insurance industry, through the design and implementation of processes that reduce operational cost and enhance client service
The initiative founder members were Willis, Swiss Re, Munich Re, SCOR, and Aon Benfield, working together with ACORD.
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