Willis Aims to Double E-Accounting Partnerships in 2013
Announces Latest Implementation with Amlin Bermuda
London, UK, 5 June 2013 - Willis Group Holdings plc (NYSE:WSH), the global risk adviser and insurance
and reinsurance broker, is leading the drive to improve operating efficiencies in the insurance market with
aims to double its E-Accounting partnerships in 2013.
Willis Limited, the UK broking arm of Willis Group, and Amlin Bermuda a branch of Amlin AG,
a leading independent insurance group, today announced the successful launch of a full electronic accounting process
between the two companies, using the current (2010.2) ACORD data standard and exchanging messages via TMEL
(The Message Exchange Limited).
The announcement demonstrates further expansion in the adoption of e-Accounting, which will reduce paper-based transactions and improve
accounting and settlement performance. This is the first Willis implementation of 2013 and its first with
a Bermudan company. For Amlin, this is the very first e-Accounting implementation.
Paul Owens, COO for Willis Limited stated: “Our roll-out of e-Accounting as a means to drive efficiencies
and improve service is gaining real momentum. This is our first implementation with a Bermuda-based company
and demonstrates our desire to increase our e-Accounting coverage as far as possible. Our e-Accounting throughput
volumes have increased by 85% year-on-year, helping to reduce queries and rework, reduce levels of unmatched
cash and improve settlement turnaround.”
Richard Brame, Willis Accounting & Settlement Change Programme Director, added: “Amlin have been a great partner to
work with and we look forward to realising the benefits of e-Accounting with Amlin moving forward.
We now have ten live e-Accounting carrier partners and are looking to double this by the
end of 2013.”
Steve Bardell, Amlin Bermuda’s Underwriting & Operations Manager added: “We anticipate realising almost immediate benefits from weekly
premium payments and reduced paperwork. The team at Willis were a pleasure to work with as
they guided us through a very straightforward implementation process.”
Willis is an active member of the Ruschlikon initiative, which aims to automate back-office processes, and the
LMG Non-Bureau Working Group and Amlin is a member of the Bermuda Ruschlikon Steering Committee.
Willis Group Holdings plc is a leading global risk advisor, insurance and reinsurance broker. With roots dating
to 1828, Willis operates today on every continent with more than 17,000 employees in over 400
offices. Willis offers its clients superior expertise, teamwork, innovation and market-leading products and professional services in
risk management and transfer. Our experts rank among the world’s leading authorities on analytics, modelling and
mitigation strategies at the intersection of global commerce and extreme events. Find more information at our
website, www.willis.com, our leadership journal, Resilience, or our up-to-the-minute blog on breaking news, WillisWire. Across
geographies, industries and specialisms, Willis provides its local and multinational clients with resilience for a risky
Amlin plc is a leading independent insurance group operating in the Lloyd’s market through Amlin London and
additionally in the UK, Continental European and Bermudian markets. We specialise in providing insurance cover to
commercial enterprises across a broad range of risks including aviation, marine and international property & casualty.
We also provide reinsurance protection to other insurance companies around the world.
A FTSE 250 quoted company domiciled in the UK, Amlin’s Syndicate 2001 is highly rated at ‘A+’
(Excellent) by AM Best and ‘A2’ (Stable) by Moody’s.
The Rüschlikon initiative is driven by a group of leading global (re)insurance companies, together with ACORD, to
further automate (re)insurance back office processes (technical accounting, claims, settlement) using ACORD RLC (Re)insurance and Large
Commercial) standards. The Rüschlikon Initiative’s mission is to reshape the (re)insurance industry, through the design and
implementation of processes that reduce operational cost and enhance client service The initiative Founder Members were
Willis, Swiss Re, Munich Re, SCOR, and Aon Benfield, working together with ACORD.
About London Market Group (LMG) Non Bureau Working Group
The Rüschlikon Initiative has also influenced London Carriers with the formation of the London Market Group’s (LMG)
Non Bureau Working Group which includes representatives from Willis, AIG, Allianz, X/L, ACE, Generali, QBE, 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