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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Charles Taylor PLC    CTR   GB0001883718

CHARLES TAYLOR PLC

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Charles Taylor : becomes largest Write-back provider in the London market

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03/30/2016 | 04:57am EST

Charles Taylor becomes largest Write-back provider in the London market

30 March 2016

All London Market Carriers using Charles Taylor Insurance Services' claims workflow and diary management system, TRAX, are going live on 'Write-back' on 30th March. The carriers will be able to automatically update Lloyd's Electronic Claims Files (ECF), using TRAX, taking control of the whole lifecycle of the claim within their own claims management systems.

Charles Taylor has been at the forefront of the Lloyd's Market Association (LMA) market-wide Write-back project which integrates managing agents' claims management systems into ECF. The simultaneous go-live date of 30th March 2016 will make Charles Taylor the largest provider of Write-back systems in the Lloyd's market.

James Savill, Business Development Executive, Charles Taylor Insurance Services, said:

'Write-back is a step change for claims management in the Lloyd's market. Previously there was no link between managing agents' claims management systems and Electronic Claims Files. Now the system has been opened up and TRAX can seamlessly integrate with ECF - increasing speed and efficiency.'

TRAX fully automates claims notification and monitoring processes, enabling insurers to reduce cost, increase efficiency and achieve fast claims settlement while providing a platform to support market standards and compliance adherence. TRAX is offered as Software as a Service (SAAS) which means that all releases, including the Write-back enhancements, are automatically delivered to users.

Luisa Barile, Chief Executive, Charles Taylor Insurance Services, said:

'Write-back significantly improves the way the London Market handles electronic claims. It eliminates duplication of processes; provides managing agents with richer claims data and enables claims to be settled more quickly. We are delighted to be at the forefront of this initiative.'

Charles Taylor plc issued this content on 30 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 March 2016 08:56:17 UTC

Original Document: http://www.ctplc.com/news-/news-search/2016/03/charles-taylor-becomes-largest-write-back-provider-in-the-london-market/

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