LONDON (30 August 2012) – Aon Risk Solutions, the global risk management business of Aon plc (NYSE: AON), has committed to support the London Market Group’s modernisation agenda by implementing the Qatarlyst platform to automate the transactional insurance placement process with the London markets. Aon has employed the use of Qatarlyst across all lines of business in London, partnering with more than 65 markets in an effort to improve efficiency for clients.
Aon leads the London market in its commitment to automation and is currently the highest volume broker of electronically agreed insurance contracts, binding more than 6,400 risks and 7,500 endorsements across all lines thus far in 2012.
The Qatarlyst service delivers auditable communications and document distribution between broker, insurers and Lloyd's underwriters, delivering a more streamlined service to clients. The system is used in addition to the traditional face-to face negotiations conducted on behalf of clients, and plays an important part in communication and document tracking following initial broker and underwriter contact.
Ian Summers, chief information officer, commented: “This is the next step in delivering a more efficient service to our clients. By creating a direct, electronic communication channel between broker and underwriter, we increase security and save time in data entry, meaning our clients receive better service with much less risk. By complementing the traditional face-to-face conversations, Qatarlyst creates a secure platform to deliver the best to clients. It is encouraging to witness the positive responses from other brokers and our markets.”
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About Aon
Aon plc (NYSE: AON) is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 61,000 colleagues worldwide, Aonunites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world's best broker, best insurance intermediary, reinsurance intermediary, captives manager and best employee benefits consulting firm by multiple industry sources. Visit www.aon.com for more information on Aon and www.aon.com/manchesterunited to learn about Aon's global partnership and shirt sponsorship with Manchester United.
About Qatarlyst:
Qatarlyst is the leading trading service for the global insurance and reinsurance industry.
It provides buyers, brokers and carriers with a complete set of screens, processes and workflow to support quotation, signing and endorsements for all types and classes of commercial insurance, facultative and treaty reinsurance and Retakaful business.
Qatarlyst is web-based so it can be accessed via any web browser, including mobile devices such as iPad, from anywhere in the world. With proven, reliable and scalable on screen functionality, Qatarlyst gives users the ability to work remotely or link directly with in-house systems providing the flexibility of the web with the stability of internal systems and architectures. As business is completed on Qatarlyst, ACORD standard XML messages are created enabling users to easily accept and process information without the need to re-key the same data into multiple systems.
There are currently over 400 companies and 5500 users spread over 48 countries signed up and using Qatarlyst.
Qatarlyst is owned by Qatar Insurance Services, a division of the Qatar Financial Centre Authority (QFC Authority), and has two main offices. The head office in Doha, Qatar serves its regional customers and the office in London, UK serves the global markets.
Twitter: www.twitter.com/qatarlystlondon
LinkedIn: http://www.linkedin.com/company/41261
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