Reconciling accounts and the future are one and same
It’s not often that you get to do something that is better for the environment, whilst at the same time saving money and improving efficiency, but that’s exactly what CGI will be showing on its stand at this year’s BIBA conference.
Brokers today literally receive 1,000s of paper statements, which are sent out every month from insurers as part of the monthly account reconciliation process. Then just for good measure, a second copy is often sent out as a reminder, sometimes printed on different coloured paper for good effect. It doesn’t take much imagination to work out just how many trees are sacrificed every year and the amount of energy consumed in producing and distributing the paper statements.
Now there is an alternative, which has a real chance of influencing tomorrow. In partnership with Norwich Union and Allianz, CGI launched the Account Reconciliation Centre (ARC) in October last year, a web based solution that totally eradicates the paper statement process.
Not only does ARC remove the manual, paper-based process it also radically enhances the reconciliation process, with some brokers reporting as much as a 50% reduction in effort for reconciling accounts.
“It does not take much imagination to work out just how many trees are sacrificed every year and the amount of energy consumed in producing and distributing the paper statements.
With some 250 brokers already connected to ARC, and now the launch of a broker self-service kiosk which allows brokers to self register and undertake online training, it’s even easier to help save the planet.
In the words of a well known supermarket chain, ‘every little helps’, so if you want to do your bit to reduce the impact of global warming, shape the insurance industry of tomorrow, all at the same time as improving your operation, come and talk to us during the Biba conference.
You’ll find us at stand H15.
Tim Gregory is Vice President of Insurnace at CGI
