FC-EDI Trading Builds In 2006 As New Insurers Come On Stream In Volume
Winchester , September 18 th 2006. Since the introduction of full cycle EDI in early 2005, TGSL has made substantial inroads into this technology. To date, three market leading motorcycle insurance contact-centre/Internet operations (Lexhams, HLG, AFG), and two very large private motor call-centres/Internet operations (AFG/HLG) have gone live with Transactor EDI. TGSL is now developing household EDI for Glasgow based call-centre/Internet operation KFIS. There are a further three clients, currently subject to NDA, for Transactor’s private motor, motorcycle, and household EDI solutions.
Since moving into volume personal lines in 2004, TGSL has implemented the entire UK Open Market (‘OMR’) in motorcycle, with many insurers trading their open market and scheme products via the EDI channel. TGSL’s Transactor solution supports both Internet and call-centre trading via full-cycle EDI.
In UK private motor, 123 delegated authority schemes and 124 private motor OMR products are built. At the time of writing (September 18 th 2006), all 123 DA schemes are signed off, complete with FC-EDI where the insurer wishes, with optional EDI ‘batched’ as email, or a ‘structured’ electronic bordereau output. For the ‘Open Market’, 65 products are now signed off for FC-EDI, with others trading on an electronic bordereau by choice. Full Cycle EDI relationships already signed off include examples of every size of insurer, including CCUA, HSBC (Corinthian, Doric, and Regent), Ensign, ERS, KGM, Kinetic, NIG, Norwich Union, RSA, and Highway, to name a few. A further five insurers requiring FC-EDI are committed to a sign-off by October 17 th.
In household, some 50 separate Delegated Authority products are now live, and TGSL is nearing the completion of a Full Cycle EDI project with AXA and MMA. KwikFit awarded a contract to TGSL to convert their household insurance panel to EDI trading over the course of 2006. This has been slightly delayed by the sheer volume of products TGSL has implemented during the year.
‘Our technical underwriting people in Milton Keynes have so far this year built, tested, and released over 240 private motor products, which I suspect is a new industry record’, comments Ray Vincent, Managing Director. ‘Ron Pease and his team deserve recognition for what they have achieved in such a short space of time, and so do the Winchester based development team that built the toolsets and made it all possible. We can be in test within 24 hours of receiving a Polaris product, as a certain insurer has recently found out.’
‘Our approach to EDI is to use the same schemes and documents on the website and in the call-centre, which substantially reduces insurer testing time’ continues Vincent, ‘We build the EDI capability using a single toolset whatever the line of business may be, and this cuts down the development time for introducing new products, which our insurer partners find attractive.’
Please contact for further information:
Ray Vincent
Transactor Global Solutions
Tel. +44 (0)8454 586226
Email. ray.vincent@transactorgsl.com