24.05.06
Wildnet have recently launched an online Lawyers Professional Liability solution for Navigators Insurance Company, based on its Wild Commercial product. It is a web-based, front office administration solution that increases the efficiency of the customer acquisition and servicing processes. It allows US-based brokers a single source for quotes, binding business and receiving policies.
"This Wildnet product helps underwriters to grow their businesses through the intelligent adoption of the right technology." commented Mark Birrell, Chief Executive of Wildnet. "By enabling brokers to submit business online and enter data only once, and with integration into Navigators' back office, the client gains significant business benefits, reducing the cost of business acquisition, improving the consistency and control of underwriting and by delivering much more efficient customer service to the brokers."
Wild Commercial delivers the following benefits:
Reduces the cost of acquiring business
By allowing the rate, quote, bind and policy issuance processes to be carried out by administrative staff, Wild Commercial reduces the cost of acquiring business and allows cost effective access into new lines of business or markets.
Timely, consistent underwriting
The Wild Commercial rating engine encapsulates underwriting rules for straight forward business. Underwriters are freed up to focus on cases where their expertise is needed and adds value
Improves control over the underwriting process
Where a case is referred to an underwriter for manual underwriting, the process is tracked, managed and audited leading to increased control over a key internal process.
Efficient customer service
Customer service processes such as policy documentation fulfilment, renewal processing, mid-term adjustments, claims notifications and credit control are handled automatically leading to reduced servicing costs, and enhanced customer service.
ENDS
For further information, please contact:
Mark Birrell, Wildnet - 0207 397 9501
Caroline Wagstaff, Lucid Communication - 0207 580 1769
Notes to Editors
Wildnet was founded over seven years ago to assist the insurance community to process their business requirements electronically. Utilising decades of industry experience, as both brokers and underwriters, Wildnet brings a unique industry understanding that aims to solve business problems either by providing consulting services, applying the right transactional and processing systems, or creating customised solutions. They have built over 25 web based processing platforms, and provided a range of systems to insurers, reinsurers, brokers and Managing General Agents.
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