Two-year contract follows trials with Lloyd's insurers.
Lloyd's has signed a two-year extension deal with Adsensa, the intelligent software development company, to continue providing managing agents with access to Wordsensa QA, its document checking tool.
In a statement Adsensa said the move would increase slip and policy accuracy while reducing the time to apply quality checks.
The statement said: "Usage is predicted to more than double during 2009 as hundreds of underwriting, compliance and wordings personnel already use Wordsensa in the pre and post bind quality assurance process."
The move follows successful trials undertaken by Lloyd’s personnel. Jonathan Matthews, head of Risk Management at Beazley said: "This is an exciting development for Lloyd's managing agents. Wordsensa QA should help underwriters further streamline their review of contract documentation."
Adsensa said that several managing agents are embedding Wordsensa QA capabilities within their core processes, reducing errors and omissions and delivering more consistent more accurate contract documents.
Rolf Tolle, Lloyd’s Franchise Performance director, added: "This technology will help Lloyd’s businesses to carry out a higher level of quality control on contracts and provide a first class service to our customers.
"It marks a significant step forward in ensuring that our processes are faster and more efficient, and that we are as competitive as possible."
Adsensa director and founder John Mountford said: “London is experiencing the effects of a softening market. ... as the market drives towards e-placement, Adsensa is committed to ensuring that Wordsensa QA evolves accordingly, assisting the market to be efficient and accurate in documentation production.”
