May 2006

Acturis and Alexander Forbes jointly short-listed for British Insurance Awards

Acturis and leading international broker Alexander Forbes have been jointly nominated for the 2006 Technology Award. The nomination is in recognition of the groundbreaking implementation of a new technology system within Alexander Forbes Insolvency Risk Services, a division of Alexander Forbes Risk Services Ltd, and a leading provider of insurance broking services to Insolvency Practitioners across the UK.

The project started in April 2005 and completed on time and to budget in early July 2005, when AF Insolvency and Amlin began trading on the new platform. Within 9 months of go live:

• Productivity - has been substantially improved,
• Documentation - One click issue of policy documentation has ensured contract certainty
• Electronic Trading - Over 95% of volume is traded entirely electronically.

The chart below illustrates the progress made.

George Pritchard, Managing Director of AF Insolvency Risk Services says, ‘The business case for the project has already been exceeded within 9 months of going live. All parties are seeing the benefits from innovative use of technology, which was designed not only to enhance our service standards but satisfy an ever increasing number of compliance requirements’.

Theo Duchen, Co-CEO of Acturis adds, ‘We are delighted to be nominated for the third year running and feel that this project is the best UK exponent of the latest thinking in electronic trading in commercial insurance using technology to make a difference in a complex time critical area –full of traditional inefficiencies and inertia’

- Ends -

Return to Listings

Back to Top