Catering to Brokers, Carriers, MGAs /Coverholders in territories covering over 90% of the Lloyd’s and London Insurance market. This includes the UK, US, Canada, Australia and Continental Europe.
Our services include:
They are then reported monthly to London in the form of bordereaux. Teams of clerks and technicians reconcile claims and costs to the correct sections, binders and years of account. Finally, the claims are processed by Xchanging, the London Market’s joint bureau.
Today carriers face a costly and extensive data capture and regulatory reporting burden, which has been largely passed on to coverholders and MGAs. Meanwhile claims costs continue to rise and rates are stagnant or falling. All this has put acquisition and processing costs under real pressure.
With Advent’s Advantage platform, data is entered only once. The system is shared by all stakeholders according to their role. Risks, policies, premium and claims are validated upon entry and automatically attached to the correct section, binder and year of account. They can be processed directly into London’s central systems, removing onerous duplication of entry. All market required reporting formats are built in, available immediately at any time, in real time.
The Advantage system is established and available throughout the UK, Europe, North America and Australia. For more information about how Advantage can reduce costs for you, choose your business type from the ‘Customers’ pages.
12th December 2018
December 03, 2018: Advent Insurance Management, the InsurTech-led Lloyd’s & London Market service provider, has launched Gemini, a claims expert management hub for Lloyd’s carriers in partnership with the Lloyd’s Market Association (LMA). The initiative is designed to tackle escalating claims costs for managing agents at Lloyd’s. At its core is...+ Full Story
18th October 2018
My previous blog considered the key factors for any organisation in building a framework capable of delivering change, regardless of size. Successfully implementing change comes down to asking the right questions so this next blog will consider the question: Is the change justifiable? Any organisation is only as good as its...+ Full Story
23rd July 2018
Despite being constantly told that we need to change and that change is inevitable, our first response isn’t always immediate acknowledgement and enthusiastic acceptance. The vast number of reports being published about change needed in the London market can make unsettling reading. Considering the implications for individual businesses, and realising...+ Full Story