The industry aim of single-key trading between brokers and insurers moved closer this week with the completion of deals by two major players in the online trading sector.
Reinsurance hub ri3k annou ...
The industry aim of single-key trading between brokers and insurers moved closer this week with the completion of deals by two major players in the online trading sector.
Reinsurance hub ri3k announced the integration of its system with software firm CSC's reinsurance administration system, which will allow brokers and reinsurers to transfer risk data using single-key functions.
The new link will transfer contract and accounting data via the Internet.
ri3k chief executive Alex Letts said: "This is just the start. In a few years' time, the seamless movement of data will be standard practice for the big players in the industry."
Last week Lloyd's commercial lines platform, Kinnect, revealed it has signed-up five technology specialists to help deliver its solution to the market.
The five firms - CGI, HP, LogicaCMG, ROOM Solutions and SAIC - will analyse business processes and produce solutions for trading partners.
The deal comes several months after Kinnect signed up the London operations of Marsh, Willis, Ace European Group, Amlin, Beazley and Wellington.
