One of the things that clients often complain about is poor comms from their insurers, underwriters, agents, MGAs etc. Which is why the right messaging tools matter. Here’s the word;
Web Connectivity Limited (WCL), a Zywave company, and leading reinsurance company Chaucer Group (Chaucer) today announced that Chaucer is now live with Alternate, a messaging solution developed by WCL, which allows them to process ‘unsupported’ messages from Velonetic, a leading insurance technology solutions provider. Today’s announcement comes in advance of Blueprint 2, the once-in-a-generation transformation project in the London market that plans to update the central market messaging infrastructure.
“Alternate has provided Chaucer with a robust and reliable solution to process messages from Velonetic that would otherwise be unsupported,” said Hayley Spink, Chaucer Chief Operating Officer. “Adopting this technology and transforming our business today means we can continue to write business in preparation for Blueprint 2, Phase 1, go-live, and establishes the framework for our business to be ready for Phase 2.”
At go-live of Blueprint 2, Phase 1, companies may face a critical decision: either cease writing certain lines of business or invest in a significant, time-consuming upgrade to internal policy systems to support the new message types. This is because many of the bespoke market messages currently generated by Velonetic will no longer be supported under the new framework, requiring companies to find an updated solution.
As the foremost messaging specialist in the London market, WCL, working in partnership with Northdoor, were asked to build a solution that processes ACORD eBOT and eCOT messages, which are sent by Velonetic via the ACORD4ALL service. These messages are in turn updated into the latest ACORD version and then translated into a format that Chaucer is able to consume into their policy system. The benefits of this approach mean that Chaucer are in effect ready to process Blueprint 2, Phase 2 messages, as and when these are available.
“WCL first started supporting Chaucer with ACORD messaging in 2007, so to continue our long-standing partnership to ensure they are able to respond to changes resulting from Blueprint 2 is extremely rewarding,” added James Willison, WCL’s managing director.
Alternate is now built, tested, and live and available to any Lloyd’s Managing Agent or London market company whose current bureau messages will no longer be supported with the go-live of Blueprint 2, Phase 1.
For more information on WCL’s Alternate solution, visit https://webconnectivityltd.com/solutions/alternate/.
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