Energy and Utilities

Verometrix

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 an efficient way to monitor and manage their spend. Verometrix answers this need. Verometrix is a unique, integrated, end-to-end expert management processing solution for the Lloyd’s and company market.

Verometrix complements our existing Fees Direct agreement and settlement service and delivers:

  • online expert instruction
  • e-billing
  • automated invoice validation
  • budget management
  • fee agreement and settlement
  • a comprehensive management information offering.

 

Verometrix brings invoicing into the digital age, making business flow more efficiently across the London market.

  •          Invoices can be submitted directly to Xchanging who will act within agreed
             timeframes, resulting in quicker payment and improved cash flow
  •          Real time visibility
  •          Reduced complexity in the relationship with insurers

To find out more, download the Verometrix factsheet or contact Zoe Steele to arrange a demonstration.

Our whitepaper, The Truth Behind the Numbers, discusses how well the London market manages the process of selecting and paying the third party experts it uses. Download your copy here.

Case studies

RFIB - Flexibility and configurability to stay ahead of the game
Insurance Software
Click to view Case Study
of
Close

RFIB - Flexibility and configurability to stay ahead of the game

Insurance Software

CHALLENGE

RFIB operates in a highly complex environment that requires a seamless and integrated broking solution with multi-national capabilities.

RFIB needs watertight systems and processes to meet the stringent compliance requirements of a heavily regulated insurance market.

 

SOLUTION

  • RFIB uses the feature-rich capabilities of Brokasure to manage its entire wholesale insurance services business, including claims and policy administration for underwriting and broking.
  • Brokasure offers the automation and management of intricate end-to processing of quotes, policies, transactions and claims, often in multi-currency environments.

RESULTS

  • Enabling compliance – Brokasure enables RFIB to stay at the forefront of insurance regulations.
  • Configurability – RFIB has direct input into Brokasure enhancements through the Brokasure User Group.
  • Proactive partnership – Xuber’s continual process of review maintains efficiencies and to ensures standards of delivery.

“Xuber has a deep understanding of the challenges we face and the solutions we need to run our business,”

Mark Kinsella, Head of It, RFIB.

Howden - Transforming manual tasks to gain agility and advantage
Insurance Software
Click to view Case Study
of
Close

Howden - Transforming manual tasks to gain agility and advantage

Insurance Software

CHALLENGE

Howden was manually producing, printing and posting a vast number of client statements, which was a time consuming task. Howden’s management team also required more accurate and up-to-date reporting.

SOLUTION

  • eStatements enables Howden to automate the preparation and distribution of client statements.
  • SID Reporting Tool provides the ability for Howden to extract critical information from a central SQL database, and produce tailored reporting for its management team.

RESULTS

  • People without an IT technical background can accurately access and provide up to date information as and when required.
  • eStatements has enabled Howden to save money on postage and stationery, whilst also reducing technician workload.
  • Push button, real-time data giving management teams a clear and accurate status update upon which to make decisions.

“We can see that Xuber is committed to keeping its product up to date and relevant, which is important to us.” 

Jackie Hobbs, Business Process & Systems Implementation Manage, Howden.

We use cookies to ensure we give you the best experience on our website. If you continue, we'll assume that you are happy to receive all cookies on this website. To find out more about the cookies we use and how to delete them, see our Privacy policy.