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
- 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