Fidelis has selected Trax from Charles Taylor InsureTech to streamline its global claims management capability. Trax will assist Fidelis in driving straight-through claims processing enabling them to increase efficiency and achieve faster settlements.
Trax is a market leading claims management solution, providing a single platform to manage all claims across Lloyd’s and other global markets. Implementing Trax will enable Fidelis to automate claim notifications and monitor Electronic Claims Files (ECF), through ECF write-back capabilities. It will also assist in eliminating manual processes and data re-entry. The solution will improve the customer experience while exceeding market standards and meeting all regulatory compliance requirements.
Trax, offered as a Software as a Service (SaaS) solution, has been widely adopted across the insurance market. It leverages automation throughout the entire claims lifecycle enabling an accelerated process and is continuously enhanced based on recommendations offered by the user-group to ensure that it meets the market’s changing needs.
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Tony Russell, Chief Commercial Officer, Charles Taylor InsureTech, said:
“We are delighted that Fidelis selected Trax to help streamline its claims processing, improve efficiency, reduce claims lifecycle and achieve faster claims settlements. This is a significant win for us and is an exciting new partnership for both companies. We look forward to Fidelis joining the growing Trax community in London.”
David Turner, Group Head of Claims at Fidelis, said:
“Providing a first class, efficient, fair and expedited claims service is a key business objective for Fidelis. We selected Charles Taylor InsureTech because of its proven track record in delivering quality technology solutions for the London and Global insurance markets. Trax will enable us to minimise operational overheads through reduced claims administration, automate claim notifications and improve our monitoring of Electronic Claims Files (ECF), through its write-back capabilities. Trax will connect to our incumbent platforms and allow us to eliminate manual processes and remove data re-entry. We look forward to a long-term relationship with Charles Taylor InsureTech.”