August Group has announced the first 100% automated claim notification as a result of its shared repository system.
August Group has announced the first 100% automated claim notification - involving Wellington Underwriting and Aon - as a result of its shared repository system.
The announcement is a success for the business process management (BPM) solutions provider, following Aon's decision to use the system, which streamlines the claims process.
The repository enables underwriters and third parties to share access to documents used in the claims process.
August Group chief executive David Ives said: "We are encouraged by the positive response from both Aon and underwriters such as Wellington, who are keen to use this technology to pioneer a new way of working in the insurance market."
The announcement is a milestone for August, which has battled against the industry's reliance on paper as the basis for conducting business. The electronic repository enables claims documents to be accessed by several interested parties at the same time - enabling parallel processing.
Wellington claims manage Peter Rowe said: "Wellington is pleased to be involved in this exciting development, which will revolutionise the way we conduct business in the London Insurance Market. I believe that in future the need for paper files will be significantly reduced."
