07.01.04 - Wildnet-built Processing System Will Provide Enhanced Efficiencies to Streamline the Business Process

Yachtsureinteractive (www.yachtsureinteractive.com), the yacht insurance website managed by Underwriting Risk Services Ltd, a subsidiary of Talbot Underwriting Holdings Ltd, has been relaunched with an upgraded data processing system. The new website will provide the underwriter with increased administrative efficiencies to streamline the business process and therefore responses to brokers, whilst at the same time providing enriched functionality for brokers purchasing yacht insurance online.

Initially launched in 2001, Yachtsureinteractive was the only interactive website dedicated to the broker market for the high value yacht insurance. The website provides a quote on vessels up to 24m in length and to the value of US$3 million or equivalent and will accept business from over 40 different countries, 24 hours a day.

With its improved processing system, Yachtsureinteractive has a number of additional core features including: access to online task list, an improved navigation and search facility, enhanced renewals module, a correspondence system that tracks the communication for each risk online, credit control reminders and payment remittance advice. Existing brokers can use their ID and password to gain access to the new website and all existing customers, quotes and policies have been fully converted.

Nick Hales, Managing Director of Underwriting Risk Services Ltd commented:

"After the original Yachtsure.com was launched four years ago dedicated to both the broker market and the direct yacht insurance buyer, Yachtsureinteractive was created in 2001 solely aimed at the intermediary market and has been an outstanding trading success. The website can provide a quote indication in seconds, a full quotation online in minutes, bind immediately, and receive monthly statements and report claims - all online. As a result, brokers have achieved significant real time savings.

"The upgraded website now offers many additional improvements, including providing brokers with a far simpler and more user friendly application process, and together with the remaining upgrades we are hoping that our brokers will find the service offered via the site greatly improved."

The upgraded website was developed by Wildnet, the market leading provider of business process solutions to the insurance and reinsurance industry, using its WildCommercial processing system. WildCommercial allows underwriters to construct customised programmes and contains a core processing engine capable of underpinning different lines of commercial insurance business, and can also be used to manage programme-based business. The system can be underwritten individually.