1 January 2006

Technology

Axa and Acturis combine

Insurer Axa and software supplier Acturis have claimed to be the first to offer a tradesmen product on imarket via a software house. Tradesmen and shops packages have been available via Acturis and Axa Business Risk since mid November. An office product is being tested and is set to go live in February 2006.

Axa, which has introduced 12 face-to-face e-consultants to the insurance market, will be able to store all policy requests from brokers, including rejections. There are two levels of reply: automated and those that are priced by an underwriter. Underwriters are notified, when necessary, as soon as imarket transactions are received.

Theo Duchen of Acturis stressed the sophistication of imarket over electronic data interchange. He said: "As an insurer, you want to tweak rates and products as volume comes in; imarket allows for this to happen."

Colin Calder, head of broker development and is closely involved in Axa's imarket integration, said: "We are now seeing brokers e-mail policy documents to their clients for approval, which demonstrates how technology is helping to develop transactions."

The next big test for imarket is to allow the capability of mid-term alterations and renewals. These are expected to be available in June next year.

An Axa spokesperson said the insurer has plans to go live with other software houses next year, but declined to name which ones.

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