Torus Implements Leading-Edge Claims Technology
22nd November 2011
Torus, the global specialty insurer, today announced the implementation of its new, state-of-the art claims management system, GuidewireClaimCenter®.
Unlike the majority of insurers who rely on older, multiple platforms, Torus has implemented ClaimCenter as its one global claims management system to support its entire product suite, standardising claims handling processes to deliver enhanced claims efficiency and improved speed and accuracy of claims payments for Torus customers worldwide.
“Our aim is to be a world class claims team,” said Rob Powell, Chief Claims Officer. “This initiative evidences our progress and allows us to demonstrate our success. The investment clearly shows Torus’ commitment to embed claims into the Torus brand. It underlines our willingness to pay philosophy.”
Torus selected Guidewire largely on the strength of ClaimCenter’s flexibility to manage claims globally across a diverse product portfolio. Importantly, this has allowed the system to be adapted to work directly with London Market Messages. This is especially timely given the recent pressure from Lloyd’s on London’s insurer and brokers to engage more fully with the electronic endorsements process.
“Torus is meeting and exceeding industry demands with regards to ECF2,” said Mr. Powell.
“Working closely with Business Agility Group Ltd, ClaimCenter has been fully implemented and integrated with all Torus’ technology platforms in under twelve months,” said Michael Kim, Chief Administrative Officer. “It further demonstrates Torus’ commitment to leverage the latest information technology to deliver consistent, high-level service in real-time to our customers throughout the quote, purchase and claims settlement process.”