Torus Implements Leading-Edge Claims Technology
Global Platform Increases Processing Efficiency; Meets London Market Electronic Endorsement Standards
Torus, the global specialty insurer, today announced the implementation of its new, state-of-the art claims management system, Guidewire ClaimCenter®.
Unlike the majority of insurers who rely on older, multiple platforms, Torus has implemented ClaimCenter as its one global claims management system to support its entire product suite, standardising claims handling processes to deliver enhanced claims efficiency and improved speed and accuracy of claims payments for Torus customers worldwide.
“Our aim is to be a world class claims team,” said Rob Powell, Chief Claims Officer. “This initiative evidences our progress and allows us to demonstrate our success. The investment clearly shows Torus’ commitment to embed claims into the Torus brand. It underlines our willingness to pay philosophy.”
Torus selected Guidewire largely on the strength of ClaimCenter’s flexibility to manage claims globally across a diverse product portfolio. Importantly, this has allowed the system to be adapted to work directly with London Market Messages. This is especially timely given the recent pressure from Lloyd’s on London’s insurer and brokers to engage more fully with the electronic endorsements process.
“Torus is meeting and exceeding industry demands with regards to ECF2,” said Mr. Powell.
“Working closely with Business Agility Group Ltd, ClaimCenter has been fully implemented and integrated with all Torus’ technology platforms in under twelve months,” said Michael Kim, Chief Administrative Officer. “It further demonstrates Torus’ commitment to leverage the latest information technology to deliver consistent, high-level service in real-time to our customers throughout the quote, purchase and claims settlement process.”
About Torus
Torus is a global specialty insurer with over 500 employees in 14 offices serving a global client base through its European, US and Bermudian based subsidiaries. Since launch in 2008 as a specialist in energy and property, Torus now has an established insurance portfolio across technical property, specialty and casualty lines, as well as a niche casualty and specialty reinsurance platform. In January 2012, following the completion of the acquisition of Lloyd’s
Syndicate 1301, Torus will offer a wider portfolio of specialty products and will write specialty business out of Lloyd’s.
Torus carries a group rating of A – (Excellent) from A.M. Best with capital provided by First Reserve Corporation and Corsair Capital. For more information visit www.torusinsurance.com.
Media enquiries, please contact:
UK/Europe
Laura Molloy
+44 (0)20 3206 8204
lmolloy@torusinsurance.com
US
Stephen Kennedy
+1 (0)203 254 1300 ext. 118
skennedy@cjpcom.com