Guy Carpenter launches Electronic Claims File initiative.

(From InsuranceNewslink.com)

Guy Carpenter today announced that it is formally launching its Electronic Claims File (ECF) initiative for reinsurers in the London market after development, testing and implementation of a pilot project with select Lloyd's managing agents. As one of the leading reinsurance brokers to offer ECF, a key component of the broader London Market reform program, Guy Carpenter will be able to process and conduct the many of its claims transactions in a completely paperless environment with its current trading partners, significantly enhancing client service.

Guy Carpenter launched its ECF pilot as part of the London Market Principles (LMP) market reforms program which outlined a broad program for improving claims processes, facilitating faster decision-making and providing improved claims service to clients.

The broker says ECF radically improves the current, antiquated London claims process, which requires reinsurance brokers to ship paper documents from regional offices to London and then distribute them by hand for review and agreement by underwriters, resulting in service delays and the inability for all parties to easily and efficiently ...