Guy Carpenter & Company has announced that it is formally launching its Electronic Claims File (ECF) initiative for reinsurers in the London Market after development, testing and implementation of a pilot project with select Lloyd’s managing agents.

Guy Carpenter claims it will now be able to process and conduct many of its claims transactions in a completely paperless environment with its current trading partners.

The company launched its ECF pilot as part of the London Market Principles (LMP) market reforms program which outlined a broad program for improving claims processes, “facilitating faster decision-making and providing improved claims service to clients,” said the company.

“As society becomes increasingly reliant on technology and the Internet, global companies must develop solutions that support this faster, more streamlined way of doing business,” says Charles Higham, managing director and chief administration officer of Guy Carpenter.