Xchanging has a wealth of operational experience and controls in place to ensure that expert fees are appropriately and accurately handled.
Insurers in the London Market spend more than £1bn a year on fees for third party experts but, until now, they have lacked a true end-to-end service, to manage these fees more efficiently.
Fees Direct+ is a unique, integrated, end to end expert management processing solution for Lloyd’s, Company Bureau, non-Bureau and international insurance market customers.
The service addresses the needs of insurers and the challenges they are facing, delivering:
online expert instruction
automated invoice validation
fee agreement and settlement
a comprehensive management information offering.
Benefits for London market users
Benefits for experts
Invoices can be submitted directly to Xchanging who will act within agreed timeframes, resulting in quicker payment and improved cashflow
Visibility of invoice trail
Reduced complexity in the relationship with insurers
Fees Direct+ brings invoicing into the digital age, making business flow more efficiently across the London Market.
To find out more, contact
Zoe Steele to arrange a demonstration.
Fees Direct+ overview
Fees Direct+ Factsheet Insider Quarterly (Autumn 2012) – Paying the bills Press release