Global insurance carrier AXA XL has gone live with an enterprise Claims Management System developed by claims technology specialist DOCOsoft. The multi-award winning system, supporting full ECF2 Write Back functionality was delivered on time, on budget and according to plan. The claims management system (CMS) integrates seamlessly with AXA XL’s underwriting and document management systems as well as the market wide Electronic Claims File (ECF) and Insurers Market Repository (IMR).
The project is a rare example of a Tier 1 Lloyd’s carrier working with a technology vendor to provide its claims adjusters with a system that meets their complex claims needs, while working to a short 9-month delivery schedule. Other market projects of this scale are a huge challenge and can often take two or more years to complete making this a London market first.
DOCOsoft’s Claims Management System provides 24/7 access to claims adjusters who will no longer be dependent on legacy London market claims interfaces. The system is a great leap forward that delivers significantly improved MI, better regulatory functionality and, most importantly, protects carriers’ reputations in the vital claims arena. The CMS also supports regulatory compliance with minimum claims standards, helps increase throughput, reduces duplication of effort, supports faster reporting and reduces the end to end claims lifecycle. The product is closely integrated into the infrastructure that supports the London and international insurance markets.
DOCOsoft CEO Aidan O’Neill, said:
“DOCOsoft understands the growing challenges faced by our global carrier client base, which now includes AXA XL. Their claims business is complex, dealing with multi-million dollar claims. Our technology systems are robust, which is why we were selected by AXA XL as part of a highly competitive tender process that included some of the world’s largest technology vendors. We also increasingly add value through our improved MI and data analytics software, which allows claims departments to understand and measure their data more accurately. We are delighted to welcome AXA XL on board.”