The Streamlined Market - Electronic Claims Files

After some false starts the market is embracing electronic platforms. RI3K is reported to be handling an increasing amount of business, and the G6 Group at Lloyd's is going live with its "peer to peer" electronic system.

Initially, the focus was on placing, however it has been recognised that dealing with claims electronically can also increase efficiency of the claims process. As well as reducing the need to take claim files around the market manually, if underwriters can simultaneously review claims electronically the process will speed up. The Electronic Claims File (ECF) system provides Lloyd's managing agents with a single integrated service to manage the process for agreeing claims and storing claims-related documents.