25 September 2006

 

 

Advisen Ltd

 

Strategic Partnership with Web Connectivity

 

 

Advisen Ltd. (“Advisen” or “the Company”), the leading provider of exposure and market data, analytics, and benchmarking to the global commercial insurance industry, and Web Connectivity Ltd. (“Web Connectivity”), the foremost provider of standards-based XML messaging Gateway solutions for the commercial insurance industry, are pleased to announce a strategic partnership.

 

Under the terms of the partnership, Advisen will distribute and provide customer support for Web Connectivity’s messaging Gateway. Advisen is headquartered in New York and will be Web Connectivity’s exclusive partner in North America and Bermuda. Having opened offices in London, Advisen will also help Web Connectivity grow in Europe.

 

Web Connectivity’s Gateway solutions include: EnabledR2R, a messaging Gateway for documents to be exchanged between parties using the ACORD Document Repository Interface (DRI) standards; and EnabledB2B, a messaging Gateway solution for clients who need to exchange business data as well as documents using the ACORD Reinsurance and Large Commercial (RLC) and DRI standards respectively.

 

Web Connectivity’s Gateways allow commercial insurance organisations to implement the London market reform agenda, enable a greater efficiency in the placement process and drive down the costs of doing business in the London market.

 

Mason Power, Managing Director, Advisen Europe commented: “Others have produced electronic trading systems to help the industry reform. To date, the market has not embraced those products. Web Connectivity is not about replacing anyone’s process or systems – it is about enabling existing systems to talk to each other in a standardised and agreed format, ACORD.

 

“With a blue chip client list, Web Connectivity has the best products available. Its solutions have been proven to work for brokers and managing agents for the transfer of documents and business messages in support of submissions, claims and closing details.

 

“Our clients’ goal is to deliver a higher level of service to their customers and to adhere to the principles of contract certainty and this partnership will provide more tools to help achieve that goal. “

 

Tom Ruggieri, CEO of Advisen said, “The partnership with Web Connectivity underscores Advisen’s commitment to helping its clients through the entire renewal process. The combined offering helps professionals make better-informed decisions, increase the transparency and efficiency of the placement process, and better service policies in effect.”

 

James Willison, Managing Director of Web Connectivity, commented:” Web Connectivity is very excited by the partnership with Advisen. We have delivered operational messaging gateways to London Insurance Market clients and we are now looking to develop our client base outside of the London Market to any organisation wishing to send and receive electronic data using international standards. We look forward to working closely with Advisen in this respect.”

 

 

 

 

--ENDS--

 

 

Further information, please contact: 

               
 

Mason Power 

Tel: +44 (0)7809 143 620

Advisen Ltd

mpower@advisen.com

 

 

James Willison

Tel: +44 (0)20 7264 2188

Web Connectivity Ltd.

James.willison@webconnectivity.co.uk

 

 

Peter Rigby/Alexandra Parry

Tel: +44 (0)20 7417 8989

Haggie Financial

 

 
 

 

 

Notes to editors

 

Advisen

Advisen Ltd. provides carriers, brokers, risk managers and other insurance professionals with an integrated analytics and information platform for insight to make key commercial insurance and risk management decisions. Over 40,000 insurance professionals use Advisen every day for news and insight into underwriting, marketing and purchasing commercial insurance. Advisen's web-based applications incorporate data, analytic tools and research on over 1.7 million global assureds and 80 industries. 
 
Advisen clients gain higher value on the above information through analytic functions such as: benchmarking, work-up and submission templates, insurance program management, policy & law comparisons, loss & exposure analysis, corporate governance, financial metrics, news and significant litigation data.

Visit www.advisen.com or call +44 (0) 7809 143 620

 

 

 

Web Connectivity

 

Web Connectivity, launched in 2003, focuses primarily on enabling companies to exchange structured and/or unstructured information using ACORD data and messaging standards. Its EnabledB2B Gateway allows instant communication with other parties using the ACORD Messaging Framework, and the Reinsurance and Large Commercial (“RLC”) and Document Repository Interface (“DRI”) standards. A winner of multiple awards by ACORD, Web Connectivity’s was the first platform to have been certified by ACORD for this combination of standards. Firms that only wish to transfer documents with other parties internally or with its clients or trading partners may use the EnabledR2R solution... For more information see the Company’s website at http://www.webconnectivity.co.uk

 

ACORD

Based in New York, ACORD (Association for Cooperative Operations Research and Development) is a global, non-profit insurance association whose mission is to facilitate the development and use of standards for the insurance, reinsurance and related financial services industries. With offices in London as well, ACORD accomplishes its mission by remaining an objective, independent advocate for sharing information among diverse platforms. ACORD Standards and services improve efficiency and expand market reach.

 

ACORD XML standards are internationally agreed standards for the insurance community. ACORD standards allow different companies to transact business electronically with agents, brokers and other data partners in the insurance, reinsurance and related financial services industries. They serve as a common communication method for use by multiple parties, thereby increasing the efficiency of the entire industry.)