Xchanging lands Lloyd's Claims Reporting Suite deal

Xchanging has won the contract to build the platform for the Lloyd’s Claims Reporting Suite (CRS).

Xchanging will develop the platform which comprises 10 online dashboards that will provide Lloyd’s and managing agents with consistent, benchmarked claims management information delivered against a market-agreed set of key performance indicators.

The dashboards will be compiled from a combination of data that is currently held in the Claims Data Warehouse and the market’s electronic claims platform, CLASS. The dashboards will be delivered in three tranches in March, April and May 2013.

Xchanging electronic services director Geoff Kennard said: “We are delighted to be announcing this contract today and to continue working with the market in the delivery of sophisticated real time claims information. The level of detail that these dashboards are able to deliver will support Lloyd’s in their vision to be the global centre for specialist insurance and reinsurance.”

Canopius head of operations and market sponsor for the project Mike East said: “This is another important step in further improving how the Lloyd’s market manages claims. The Claims Reporting Suite will help make sure that the Lloyd’s market has access to information that is clearly defined and one version of the truth. This means we will have more of the information we need and, just as importantly, it will be there when we need it.”