Guy Carpenter & Company and Amlin, the Lloyd's insurer, have announced that, following the successful implementation of their Electronic Claims File (ECF) initiatives in the London Market, they have completed the market's first fully paperless claim settlement. As one of the first intermediary/reinsurer trading relationships to offer ECF, a key component of the broader London Market reform process, Guy Carpenter and Amlin will now be able to process and conduct all new claims transactions in a completely paperless environment, which will significantly enhance client service, says the companies.

Guy Carpenter claims that ECF radically improves the current 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 easily and efficiently access claim information.

“Innovations in technology have made it possible to conduct almost any type of business transaction more effectively, more consistently and above all more efficiently than more traditional means,” said Geoff Bromley, Guy Carpenter's chairman of European and Asian operations.

David Turner, Amlin's claims manager, commented: “Amlin is committed to leading in all aspects of process change, for pre-placement to claims settlement, working with out brokers to provide better quality service to our clients. As the global insurance market becomes more transparent, we anticipate that differential service standards will prove a key factor in the selection of both broker risk carrier.”