ePlacing
Brokers, by and large, are on the sending end of messaging, preparing and sending outgoing business request messages to underwriters and waiting for their responses.
Brokers normally initiate the cycle by sending a Placing Request. Underwriters then view the message received and respond to it by sending the broker back a response (containing, for example, an agreement, query or rejection). This, of course, has to be managed across a number of underwriters in the market.
During this 2-way messaging cycle, depending upon the requirements of the underlying broking and work-in-progress systems, synchronisation will need to take place between the systems and the message management tools to avoid unnecessary re-keying of information.
DRI
ECF (Electronic claim files) via the IMR (Insurance Market Repository) is an example of how DRI messaging can be used in a broking organisation.
All claim file information captured by the broker's claim administration system can be electroncially copied using DRI messages to the IMR for onward distribution to underwriters. If this integration is done correctly, no re-keying of information into the IMR should be necessary.
How can Ebix help?
Lime-St.Com
Jump the queue with the friendliest & most cost-effective e-business platform for brokers
Willis, Marsh and Aon have jointly announced they will be undertaking endorsements electronically over the Lloyd’s Exchange during 2010. Lloyd’s have just put out a call to underwriters to join the Exchange and accept these endorsements.
How are you going to join this market-shaking initiative?
UMG Software installed in-house
We can provide as much or as little as is required to help brokers engage with ePlacing and eAccounting trading partners, and with the IMR.
Our Universal Messaging Gateway (UMG) is at the core of all of our solutions, providing the connectivity, data validation and routing. Connectors for the IMR, the Lloyd's Exchange, the Swift Rushlikon initiative, and many other electronic trading initiatives, are available to plug the UMG into the market initiative(s) of your choice.
Adaptors may be developed to pass data from your broking administration, document management and enterprise workflow management systems, to the UMG. For those organisations requiring a more turnkey approach, our UMG Forms&Workflow module can provide all of the user-interactivity required through its broking portals.
Customised Connectors, processes, and Adaptors may be developed to integrate your organisation with almost any business partner using almost any method of electronic data exchange.
