07.03.03 - Wildnet, the market leading business process solutions provider to the insurance and reinsurance industry, today announces the launch of a new online insurance system called WildCommercial. The product enables underwriters to construct customised programmes, which allows them to meet the needs of individual insurance producers and streamline their business processes and distribution networks.

Whilst many insurers continue to build software applications to cover individual insurance products, WildCommercial contains a core processing engine capable of underpinning different lines of commercial insurance business, and can be used to manage programme based business. Using a single platform provides underwriters with better access to their authorised producers whilst providing strong compliance and workflow capabilities.

Commenting on the launch of WildCommercial, Wildnet’s Chief Executive Mark Birrell commented: “Underwriters are generally cautious about online insurance platforms because they assume that they will lose control of the underwriting process. However, WildCommercial is a completely flexible system that allows underwriters to specify their own underwriting rules. Importantly, it can have a built in or external rating engine or risks can be individually underwritten. The new system allows data to be collected and processed automatically while turn around time is instantaneous and paperwork is totally eliminated.”

About WildCommercial:
WildCommercial is a proven fully customisable insurance platform, enabling insurers to streamline their business processes and enhance their distribution networks. The system enables insurers to easily create fully bespoke applications, rating parameters and policy documentation for one or many products whilst utilising the core WildCommercial platform to efficiently manage all aspects of the business lifecycle. WildCommercial can be fully operational in a matter of weeks.