Total Objects launches new platform for MGAs

Total Objects, a software solutions provider for the global insurance and reinsurance industries, has launched GLOBAL XII, its new platform.

Total Objects has developed GLOBAL XII as a scalable and secure online trading platform to cover the entire end-to-end business process for managing agents.

The GLOBAL XII platform enables MGAs to perform a range of functions electronically – including quote, bind, MTA, cancellation, renewal, claims, workflow and accounting.

Deploying GLOBAL XII will deliver cost-savings as data is captured at source, improving quality and driving straight-through-processing (STP). Integration is also provided to third party systems for credit card and premium finance payments.

GLOBAL XII allows business to be captured by underwriters or brokers/agents and processed directly into their accounting system, using all London Market interfaces and incorporating ACORD standards for the International markets.

Paul Evans, director of major accounts at Total Objects, said: “2010 will see more competition as new entrants enter the MGA market, launching new products but also competing for existing business. The ability for an MGA to develop, adapt and maintain their products to react to these market forces will decide those who will be around for the long haul. Indeed, MGAs are, by their very nature, technology-driven businesses. Our solution has been specifically designed to meet the requirements of an MGA. ”