Business processing efficiency is a step closer following the London Market Reform Group's (MRG) agreement with market bodies on procedural rules for the Insurers' Market Repository (IMR).
Brit's Dane Douetil, chairman of the MRG, has expressed confidence that the agreement “clears the way for a fundamental change in the way claims are handled. It is the beginning of the end for paper claims files in the London market.”
LMA chairman Andrew Kendrick commented: “I'm very pleased that we have reached agreement. This paves the way for a rapid roll out of electronic claims advice and agreement in the Lloyd's market, so building on the momentum of moves to adopt electronic claims handling.”
