Willis Implements e-Accounting with Zurich
London, UK, October 8, 2012 - Willis Limited, the principal UK broking company of global insurance broker,
Willis Group Holdings plc (NYSE:WSH), has successfully launched a full electronic accounting process with the London-based
operations of Zurich Global Corporate UK , a leading global insurer, using the current (2010.2) ACORD
data standard and exchanging messages via TMEL (The Message Exchange Limited).
The announcement demonstrates continued momentum in the adoption of e-Accounting in the London Market. This is Willis’
fourth major implementation during the last 14 months and follows the launch with Generali last week.
Both Willis and Zurich are members of the LMG Non-Bureau Working Group, part of the London
insurance industry modernisation initiative to reduce paper-based transactions and to improve accounting and settlement performance.
Kevin Ahern, Managing Director of Accounting & Settlement for Willis Limited, said: “E-Accounting and sending standard ACORD
messages will improve data integrity, reduce queries, re-work and unmatched cash, and improve reconciliation and settlement
turnaround. We look forward to realising the benefits with Zurich and we continue to work with
other carrier partners and hope to be able to report on further roll-outs shortly.”
Graham Card, Executive Director and Business Lead for Willis’ e-Accounting roll-out, said: “This successful collaboration with Zurich
is a testament to the skills and determination of both teams. Willis will continue to roll-out
e-Accounting with London Market Non-Bureau Working Group members and global carriers to drive efficiencies and improve
service and we welcome interest from other companies.”
Rosario Esposito, Operations Director and Head of Underwriting Services for Zurich Global Corporate UK, said: “We are
pleased to have partnered with Willis in implementing this initiative. It is one of a number
of activities that will help us work more closely with our brokers, and therefore improve the
service to our customers. At the same time, we will achieve greater transparency in our transactions
with Willis. We are keen to develop our capabilities in this area as we continue to
improve our efficiency, and look forward to further e-Accounting implementations.”
Willis Group Holdings plc is a leading global insurance broker. Through its subsidiaries, Willis develops and delivers
professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public
entities and institutions around the world. Willis has more than 400 offices in nearly 120 countries, with
a global team of approximately 17,000 employees serving clients in virtually every part of the world.
Additional information on Willis may be found at www.willis.com.
Notes to Editors:
About London Market Group (LMG) Non Bureau Working Group:
The London Market Group’s (LMG) Non Bureau Working
Group was formed to help develop the spread and understanding of e-Accounting in the London Market.
The Group includes representatives from Willis, Zurich, Allianz, X/L, ACE, Generali, QBE, Chartis, Chubb, RSA, and
Aon Benfield. The group is supported by the LMG Secretariat and ACORD.
e-Accounting is a data-based process for facilitating financial agreement and subsequent settlement of premiums and
claims with insurance carriers. Through better synchronisation between brokers and carriers, the online system markedly improves
client service by enhancing the quality, transparency and integrity of the accounting and settlement process