Released
on: September 12, 2009, 9:37 am
Author: Tier 2 Consulting
Ltd.
Industry: Software
Munich
Re’s UK Life Branch (UKLB) uses Tier 2’s ARENA
Document Control Solution to control and automate their Treaty Contract
production process. The company believes the efficiencies achieved through this
document automation project will help them lower costs and offer even better
customer service. Treaty Department head cites substantial time savings.
Hertford, UK – September 12, 2009 – Tier 2 Consulting announced
today that Munich Re’s UKLB, a branch of the world’s largest reinsurer,
is using the ARENA Document Control solution to power their XENA Treaty Documentation
System. XENA integrates ARENA
with Exari’s InsuranceAccelerator™ to enable various departments
to capture and input their requirements for the contract allowing the Treaty
Documentation team to complete the first draft in a fraction of the time.
"We
have full version control and an audit trail, which is very important
with such complex insurance documents." Sigi Kammerer, Head of Claims
and Treaty Documentation, Munich RE |
Post
execution contract changes are also automated. The software makes valuable contract
data available enabling reports that summarize exactly which parts of the main
treaty have changed. If a claim arises, everyone is aware of what clauses are
relevant and can evaluate their impact.
Sigi Kammerer, Head of Claims and Treaty Documentation at Munich Re UKLB said,
"Not only is it much faster and safer to create these Treaty documents
with XENA, there are other benefits as well. We have full version control and
an audit trail, which is very important with such complex insurance documents.
In the future, we plan to expand XENA to include Underwriting and Claims Authorities
Documents as well as Non Disclosure Agreements. And we are pleased that other
areas across the company have expressed their interest in using the system."
“We are delighted that Munich Re has chosen ARENA
as the controlling application for the production of treaty documentation. They
are taking full advantage of the integration of ARENA
with Exari’s document assembly engine, to provide enhanced document authorship,
control, audit and reporting capabilities.”
About Munich Re
The Munich Re Group operates worldwide, turning risk into value. The
Group operates in all lines of business, with around 44,000 employees at over
50 locations throughout the world and is characterized by particularly pronounced
diversification, client focus and earnings stability. With premium income of
around €22bn from reinsurance alone, it is one of the world's leading reinsurers.
The primary insurance operations are mainly concentrated in the ERGO Insurance
Group. With premium income of over €17bn, ERGO is one of the largest insurance
groups in Europe and Germany. It is the market leader in Europe in health and
legal expenses insurance, and 40 million clients in over 30 countries place
their trust in the services and security it provides.
About ARENA
ARENA
is a unique, ‘out-of-the-box’ standards-based document control application
that facilitates the creation, authoring, review, approval, publishing, distribution
and management of any type of document.
ARENA delivers enterprise class in-built compliance so that even the smallest company can benefit from controlling their documents electronically and no longer need to rely on manually intensive methods to manage risk and maintain compliant procedures.
About
Tier 2 Consulting
Tier
2 Consulting is a dedicated team of experienced, highly skilled developers creating
bespoke web applications for some of the world’s most demanding businesses
and academic institutions.
We
use agile development techniques to deliver enterprise class, ‘rich’
web applications using leading-edge web technologies.
Long term relationships with blue chip organisations demonstrate our expertise
and our ability to consistently deliver high-quality, cost-effective IT services.
Contact Andy Kennedy:
+44
(0) 1992 509 742
akennedy@tier2consulting.com