ABOUT WEB CONNECTIVITY
Web Connectivity, a wholly owned subsidiary of Advisen, founded in 2003, provides business solutions to Insurance Organisations looking to transform their operations using structured data. Web Connectivity’s solutions support the following business functions:
- Placement of Risks;
- Accounting and Settlement; and
Web Connectivity allows organisations to streamline business processes by automating the secure, electronic transfer of data and documents between brokers and risk carriers, utilising internationally agreed ACORD standards, thereby improving client service, increasing process efficiency, reducing operational costs and eliminating unallocated cash.
Our client list includes over 95 insurance and reinsurance organisations globally, including the majority of Lloyd’s Managing Agents, the world’s largest Broking and Carrier firms and our implementations range across the US, London, Bermuda, Continental Europe and Asia.
Web Connectivity’s extensive Insurer and Reinsurer client base extends across 4 continents. Our software is used by risk carriers to communicate electronically with their trading partners, whether in respond to requests received from brokers or carrier to carrier in the case of Co-Insurance and Outbound Reinsurance.
Web Connectivity’s solutions enable Carriers to:
• Reduce operating costs • Accept and Query ACORD Technical Account (TA), Financial Account (FA) and Claim Movement (CM) messages • Respond to Electronic Endorsements and Electronic Placement messages received from brokers • Quickly reach agreed ledger positions ensuring the settlement of premiums and claims are not delayed • Easily and quickly integrate with back end systems providing Straight Through Processing • Focus accounting teams on credit control and query resolution and underwriting teams on writing new business • Improve their audit trail and promote greater transparency • Eliminate unmatched cash
Web Connectivity’s software enables brokers to quickly implement ACORD messaging, whether they are looking to start trading electronically with carriers or to start electronic Accounting & Settlement.
This is achieved by providing ACORD messaging capability to existing systems, through a variety of straightforward integration methods, thereby:
• Maximising current investment in existing systems • Reducing effort and errors in electronic data transfer • Minimising the risk of disputes with trading parties • Enabling reductions in operating costs • Improving access to Global Insurance markets • Providing secure structured data transfer • Speeding up the payment of claims
Web Connectivity’s software provides MGAs and Coverholders with the ability to generate and send, using structured ACORD data, risk, premium and claims bordereaux data to carriers, thereby:
• Removing manual rekeying of data from the process • Providing real-time information to trading parties • Vastly improving reporting capability • Measuring potential risk exposure e.g. property structure, maximum sums insured • Supporting regulatory reporting requirements
Web Connectivity’s online submission portal for brokers and cedents, transforms premium bordereaux contained in excel spreadsheets into ACORD compliant EBOT messages, thereby:
• Saving costs for both senders and receivers of bordereaux • Reducing the manual effort required to rekey data • Requiring no technological changes for the sender (as they use existing spreadsheet templates) • Providing structured data to the receiver in a common agreed format, the same as if it was sent from a fully integrated systems
“This company is by far the most reliable company I have ever come across. Web Connectivity is professional and easy to work with. I would recommend them to anyone in need of a strategic plan.”
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Tel: +44(0)20 7264 2188
Fax: +44(0)20 7265 1703