Electronic claims file (ECF) is a key component of the broader London Market reform program. Guy Carpenter now expects be able to process and conduct many of its claims transactions in a paperless environment with its current trading partners, thus significantly enhancing client service.
Guy Carpenter launched its ECF pilot as part of the London Market Principles (LMP) market reforms program, designed to improve claim processes, facilitate faster decision-making, and provide improved claim services to clients.
The company claims ECF radically improves the current, antiquated London claims process, which requires reinsurance brokers to ship paper documents from regional offices to London and then distribute them by hand for review and agreement by underwriters, resulting in service delays and the inability for all parties to efficiently access claim information.
ECF significantly enhances the delivery of information, allows all participants to communicate and view files concurrently, and provides greater transparency and speed, said Frank Hudson, senior vice president at Guy Carpenter. As one of the first brokers to formally launch ECF, we will seek ways to continue widening the opportunities for our clients to benefit from this groundbreaking technological initiative.
