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Connecting the commercial marketplace

01 November 2003

ACTURIS DELIVERS FOR BROKERS!

Acturis went live on time and within budget on the 1st July 2002. In November 2002 the first commercial insurer was integrated, AXA's Business Risk, and this was followed by a number of high profile integrations, such as with Allianz Cornhill, Fortis and Norwich union.

Acturis is now being utilised by over 550 broker users at 21 different sites. This makes Acturis the fastest growing commercial ASP solution on the market.

Paul Meehan, Managing Director at Smart & Cook, comments, "We have now been live on the Acturis Broker Platform for 16 months. Although any system change involves an element of disruption, Acturis has worked with us more like partner than an IT supplier. My team is now reaping the benefits of the Acturis system and as a result we are in a position to grow more profitably in an increasingly complex and regulated market".

GUIDING PRINCIPALS - THE 4 Cs

Acturis believed that for the system to change the face of the industry, four issues had to be addressed. these are connectivity, compliance, customer focus and cost efficiency.

1. CONNECTIVITY

The only way to reduce duplication of work, multiple hand-offs and the resulting high error rates is to create a seamless whereby commercial risk information can be passed from broker to insurer without any re-keying being required.

This dream is now a reality. Acturis has pioneered a process with a number of insurers whereby a broker can submit commercial risk information straight through to the underwriter. The broker receives the quote, with rates, endorsements and terms & conditions included, straight back into the Acturis system and point of sale point of sale documentation, such as policy documents, can be created at the touch of a button. Acturis has created the much-sought utopia, a fully connected commercial broking solution.

2. COMPLIANCE

The FSA will very shortly begin to radically reshape the general insurance market.

The Acturis system has been designed with these changes in mind. The system includes a complaints log, so that you can report instantly on your complaints activity. Risk records are locked down and if a policy is changed due to an MTA or a renewal, the historical version of the policy is retained within the system. Your documentation audit trail is also kept attached and locked down within the client record.

Structured risk capture questions also exist for all commonly traded classes of business (upwards of 100) to ensure that broker staff are asking the right questions of a client when gathering the risk details. The Reporting Module also ensures that all required management required from the FSA is instantly available. Finally, a flexible and easy to use workflow management tool allows a broker to monitor and control its service levels to ensure that FSA standards are met.

The Acturis system will reduce the cost of compliance to a broker through the audit process.

3. CUSTOMER FOCUS

The system will substantially improve both the quality and the timeliness of the service provided to the end-customers. Documentation is based around the latest Word products, and can be tailored to the exact requirements of the broker. Commercial policy insurance can now be timed in hours or days, rather than weeks or months. In addition, the cost of serving the client can be substantially reduced though the elimination of duplication of work and the much lower resultant error rate. Integration with scanning software and email also vastly reduces the cost of working in a paperless manner.

The Acturis system will improve both the quality and lower the cost of service to customers by an unparalled amount.

4. COST EFFICIENCY

Any solution must be affordable to brokers. The Acturis system offers value at multiple levels. Firstly, the system provides a level of functionality that far exceeds anything that is commonly found in the industry today, but at a comparable price. The Acturis solution is therefore excellent value for money when viewed alongside the resultant efficiency of savings realised through working on the system. Acturis will also reduce the cost of managing IT within a broker, as broker's data and server space are professionally managed by Acturis 24 hours a day, 7 days a week.

The Acturis system can offer brokers of all sizes a far better solution for their business at a realistic and affordable price.

THE FUTURE

The Acturis team, in conjunction with its broker and insurer partners, has delivered a system built around the requirements of commercial-dominated brokers of tomorrow. Connectivity between multiple offices, efficient scheme creation and management, cutting edge management reporting and excellent process management are all key functions of the system.

If you want to be a part of the future, rather than embedded in the past, please contact Simon Ronaldson, Sales & Marketing Manager, on 020 7079 4017 or simon.ronaldson@acturis.com to arrange a meeting to show how Acturis can help revolutionise your business.

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