05.09.03 - Recognising the successful implementation of the Wildnet Insurance Platform for Global Aerospace

Wildnet, the market leading business process solutions provider to the insurance and reinsurance industry, has been selected as one of five finalists for A.M. Best's E-Fusion Award which recognises outstanding uses of Internet technology for the insurance industry. The company was nominated for the implementation of its Wildnet Insurance Platform (WIP) system for Global Aerospace, the world’s largest specialist aerospace insurer covering the majority of the world’s airline fleet.

WIP is an Internet-based insurance trading and processing platform designed to streamline business processes through automation and workflow management. The system was successfully installed at Global Aerospace in February 2002 and is now integral to the company’s Private Pleasure and Business website, available for viewing and trading at www.pbo-online.com.

Since going live, the platform has issued in excess of 80,000 quotes and 20,000 policies. In that period, Global Aerospace’s share of the Private, Business and Pleasure book has doubled as a result of PBO Online. Brokers using PBO Online can obtain quotes within 30 seconds, complete transactions in just minutes and receive hard copy policy documents by mail within a few days.

Wildnet’s Chief Executive Mark Birrell commented: “Being nominated for this prestigious award is a great endorsement of our business as we seek to expand our presence in the US marketplace, and confirms our commitment to harnessing the latest technologies to promote internal processing efficiencies for our customers. The installation of the WIP system has proved a great success for Global Aerospace and we will continue to work with our customers to enhance the user experience and to add richer functionality to the system over the coming months. ”

The finalists for the E-Fusion Award were selected from over 100 entrants which included insurance companies, reinsurers and third-party technology providers. The selections were based on scoring by a panel of judges that included a mix of both insurance and technology professionals. Presentations of the five finalist projects to a panel of technology and insurance experts will be held Monday, Sept. 29, beginning at 3 p.m. at the Hyatt Regency Hotel in Philadelphia during the E-Fusion conference. The recipient of the E-Fusion Award will be announced on Tuesday, Sept. 30, during the concluding session of the conference.

Attendance at the finalist presentations and award announcement is open to registered attendees of the E-Fusion 2003 conference. For conference information or to register, please visit http://www.efusion2003.com or call (908) 439-2200, ext. 5458.