Seven London market companies have begun a three-month pilot to test a new electronic claims system for the sector.
The scheme, which is being tested by members of the International Underwriting Association (IUA) together with four brokers, will allow companies to assess new technology designed to make the submission of claims information faster and more transparent.
IUA deputy chairman Stephen Riley, who is overseeing the pilot scheme, said: "The electronic claims file has the potential to greatly improve insurers' access to claims inform-
ation and help deliver a much more efficient service to clients.
"It will encourage good business practice enabling companies to better support claims decisions and justify reserves to shareholders."
Electronic claims files for the company market will be linked to a shared repository developed by Xchanging, the market's back office service provider.
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