November 2006

Acturis introducing Mid Term Adjustments

London-based software house Acturis has gone live with mid-term-adjustments for the Tradesman product with Axa.

Luke Shepherd, insurance services manager at Acturis, told Professional Broking that other insurers would follow once any technical problems had been sorted out. He said: "We have cracked it with Tradesman and will be looking to roll out MTA for other products by the end of the year."

Shepherd cited shops, property owners, surgeries and hotels as products which will follow.

Acturis is working hard on renewals and Shepherd said these should be available by the end of the year.

Acturis is also trying to gain an advantage over its rivals by introducing a commercial combined product with Norwich Union.

Open GI has already gone live with a Zurich commercial combined product. Norwich Union will introduce a pilot with Acturis early next year. Royal & SunAlliance and Axa have also shown an interest in developing commercial combined products.

Shepherd said the transition involves Acturis training underwriters to use the new system, though for brokers there will be little difference. The products will be rolled out on a broker-to-broker basis, with 100 users at Marsh - within its Risk Trading practice division, which deals with the SME segment, including fleet, contractors and liability - the first to pilot the product.

Professional Broking

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