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Back Office Revolution Improves Customer Service and Efficiency (Part 2 of 2)

 

Last week... you read how Brokers, Insurers and Reinsurers are able to process back office transactions with less manual intervention and in much faster cycles. This week... read how companies are working towards Ruschlikon implementation.

GIC Re recently obtained ACORD certification for its implementation and is the first Indian company to implement EBOT. It now has a straight-through business process for Accounting and Settlement for deals with some of its London broker partners.

"GIC Re is a strong proponent for e-business and following our success with Project e-Thru, we are particularly pleased to have obtained ACORD certification for EBOT. Our new IT stack will now benefit from transaction data flowing straight-through from our partners, to our databases, following best in class processing. The EBOT workflow gives us reliable, automated and fast processing. We welcome new connections, with our partners in India, Asia and wider afield," said R. Sundaram, MD, GIC Re of India.

Swiss Re, a Ruschlikon pioneer, has extended its e-business capabilities from its Head Office, to Singapore.

"Swiss Re has realised substantial benefits from implementing Ruschlikon and is committed to rolling the implementation out to its offices Worldwide. The Singapore office is now open for e-business processing and is transacting electronically with its business partners in the region. I am keen to work electronically with even more partners, which is why I am involved in the Ruschlikon Asia and Australia groups: to spread awareness and interest to the rest of the industry in this important, non-competitive initiative," said Andre Tesnar, Head TA P&C and L&H Asia, Swiss Re.

Aon Benfield has been one of the leading brokers involved with Ruschlikon from its inception. It is keen to stress that the benefits of Ruschlikon are available to all carriers - insurers and reinsurers, and like GIC Re and Swiss Re, is keen to see more partners in the Asia-Pac region.

"Our ACORD enabled platform delivers structured data & documents directly to our markets back office systems, thus allowing confirmation of accounts to take place in a matter of hours, rather than days. Ruschlikon helps us to deliver claims payments faster to our clients, and to pay premiums faster to our markets. The efficiency gains from using the ACORD standard messages and processes allow us to focus our staff on value-adding activities - our people are focused on providing better service to our clients and markets, which is made possible by freeing them from having to manually process accounts and claims notifications. We encourage all our markets - insurers and reinsurers - to enjoy the same benefits," said Peter Mungeam, COO for Asia-Pacific Client Services, Aon Benfield.

Other companies in the region are working towards Ruschlikon implementation. ACORD is helping to facilitate some early adopters in the region towards implementation. If you are interested in implementing Ruschlikon, get in touch with Puneet Bharal of ACORD at pbharal@acord.org; for more information on Ruschlikon, see www.ruschlikon.com.