Service contract aids use of electronic claims system.

Electronic processing of accounting and claims in London got a boost last week as a new service contract came into force, trade bodies have claimed.

The agreement for the Insurers’ Market Repository came into effect on 1 October and now governs company, managing agency and broker users of the system.

The repository handles 2.9 million web requests a week, with 1,500 electronic claim files added every day. It has 5,300 registered users.

Dave Matcham, chief executive of the International Underwriting Association of London, said: “We are now well on the way to full use of electronic claims files by companies in the London market. Acceptance of the new repository will accelerate this process and help ensure that the system can live up to the demands that will be placed upon it.”