09.07.07

Liberty International Underwriters (LIU) have recently launched a number of Professional Indemnity products utilising Wild Commercial, the web based B2B and front office administration system, from Wildnet Group. The initial Professional Indemnity products are for Insurance Brokers and Solicitors. Following these will see the launch of Surveyors, Accountants and Miscellaneous E&O over the next six months. Wild Commercial increases the efficiency of the customer acquisition and servicing processes and provides brokers with a single source for quotes, binding business, receiving policies, ongoing servicing and renewals.
“Wild Commercial has proven over the years that it helps underwriters to grow their businesses through the intelligent adoption of the right technology.” commented Mark Birrell, Chief Executive of Wildnet Group.  “By enabling brokers to submit business online and enter data only once, and with integration into Liberty International’s back office, it results in reduced risk, greater business efficiency and increased customer satisfaction.”
Phil Foley, LIU Senior Vice President, said “This system is revolutionising the way in which we do business.  The cost of developing our business is reduced and we can deliver much more efficient customer service to our brokers. This is a tremendous platform for which we have plans for further strategic development. ”
Wild Commercial delivers the following benefits:
Reduces the cost of acquiring business
By allowing the clearance, rate, quote, bind and policy issuance processes to be carried out by brokers or administrative staff, Wild Commercial reduces the cost of acquiring business and allows cost effective access into new lines of business or markets.
Timely, consistent underwriting
The Wild Commercial rating engine encapsulates underwriting rules including acceptance criteria, premiums calculations and conditions, automating the risk evaluation process and providing consistent underwriting. This allows underwriters to focus on those cases where their expertise is needed.
Improves control over the underwriting process
All submissions are tracked through their lifecycle, from initial application through until renewal. The entire process is tracked, managed and audited leading to increased control over a key internal process.
Allows for broker self service
Brokers are able to re-print documentation, process mid term changes and cancellations using Wild commercial, further reducing underwriter workload and increasing responsiveness.
Automates renewals
Wild Commercial automates the renewal process, notifying brokers when renewals are due and removing the need to re-key data, leading to an increased retention rate.

ENDS
For further information, please contact: 
Mark Birrell, Wildnet                0207 397 9501
Caroline Wagstaff, Lucid Communication 0207 580 1769

Notes to Editors

Wildnet was founded over eight years ago to assist the insurance community to process their business requirements electronically. Wildnet brings a unique industry understanding that aims to solve business problems either by providing consulting services, applying the right transactional and processing systems, or creating customised solutions. They have built over 30 web based processing platforms and provide a range of systems to insurers, reinsurers, brokers and Managing General Agents.

About Liberty International Underwriters (LIU)
Established in 1999, Liberty International Underwriters (www.libertyiu.com) provides a diverse range of specialty products distributed exclusively through the independent broker network.  The LIU staff of over 1,000 professionals offers core products in marine, aviation, energy, engineering, property, casualty, professional liability, directors & officers and trade credit insurance.  Worldwide offices include North America, Europe and Asia Pacific.  LIU is part of Liberty Mutual Group’s International operations, which reported approximately $4.9 billion in revenue in 2006 and has 7,300 employees and operations in the U.S. and, now, 24 other countries.

Liberty International Underwriters is a trading name for Liberty Mutual Insurance Europe Limited.