A&S (Accounting & Settlement) from TIW is an on-line submission service that uses standard ACORD DRI (Document Repository Interoperability) focussed on the delivery of validated and audited documents to the IMR (Insurance Market Repository).
Ed Slade, CIO Tysers “We looked at various options for connecting to the A&S repository using DRI and decided to use TIW for the versatility of their service and how it will assist with other reforms like Electronic Claims Files (ECF). There was a particular need to consider how, as an organisation, we could centralise, store and audit electronic documents for A&S and ECF. The TIW service offers us a cost effective route to achieving this without significant change to our current processes or further development.”
The Accounting & Settlement process
Accounting & Settlement (A&S) enables the user to process premium settlements and store the relevant documents, filed under a Unique Market Reference (UMR). Broadly there are five key stages to the process:
- Login to the A&S service
- Create your new Work Package
- Choose the documents to support the package
- Submit it to Xchanging
- Receiving the email confirmation
At all points in the process the system maintains a comprehensive Audit Trail which records where a document or documents are in the process.
A&S includes the Work Order for the Xchanging processing teams to process the A&S transaction and uploads claims documents in support of the CLASS (the Electronic Claim File – ECF).
TIW’s services cover the London Market’s electronic requirements without the need for any significant change to your current business processes.
An easy to use, intuitive, straightforward process
- Comes with a full dashboard of optional Management Information widgets, including:
- Daily and Monthly package stats
- Overall system status and bulletin board
- Xchanging submission response times
- Can be fully integrated to your back office solution
- Always available via an Internet browser
- Consistent user interface design with those using other TIW products
A customisable dashboard, add/remove widgets, place them where you want and minimize
- Drag and drop
- My profile Avatar
- Low cost all inclusive per user pricing with no hidden extras
- Full control over all submissions and documents
- Ready to go, no infrastructure to deploy
Includes use of TIW Group’s automated ES Work Order
- Workflow options include: Save/Resubmit/Correction
- Fully ACORD compliant
- Includes comprehensive validation and a full audit trail
- Covers all main business classes (Aviation, Marine and Non-Marine)
- Developed and compliant with the market published requirements
- Handles Lloyd’s, Companies and Mixed markets