15.06.06 - Wildnet announced today that it is introducing a consultancy service to expand further the range of services that it provides to the insurance market.

"Contract certainty is the most important business issue facing the insurance market today" commented Mark Birrell, Chief Executive of Wildnet. "Only yesterday John Tiner of the FSA said that the market could not afford to be complacent, saying that it is widely acknowledged that the market has picked the "low hanging fruit" and that the remaining 20% of wholesale transactions will be the real test. With the deadline only six months away, no one can afford to be complacent about whether or not they will get there.

"The commercial impetus for contract certainty is compelling: reduced risk, greater business efficiency and an increase in customer satisfaction. As a new entrant to the London market, Endurance was aware that solving the problem of contract certainty would allow them to create a genuine point of differentiation in the market, and establish a clear position as a market leader in the specialty classes in which they were underwriting."

"100% of the policies that they now issue are contract certain from the point of issuance, and are issued within seconds of the policy being agreed."

"When looking at potential solutions that would help us to meet the December 2006 deadline, we found that Wildnet could offer several critical advantages. The first is that they focus 100% on the insurance sector, so Wild Certainty really reflects that internal expertise and industry understanding, and the second is their reputation for delivering the right product on time." said Jon Godfray of Endurance.

Wild Certainty generates quotations and policy documentation in an efficient and timely manner by:

• re-using data across all the documents, in order to eliminate the re-keying that is endemic,
• enabling the creation of completely bespoke wordings, fully supported by a clause library,
• generating policy wordings prior to, or at the time, of binding, and
• increasing productivity so that lead times are reduced and staff time is used more efficiently.
  

Wild Certainty, which is built on Microsoft .Net technology, is a web based application that supports multiple authorised users.  Users capture and store contract data only once, select the clauses and cover, and enter contract specific information as required.  Wild Certainty then merges this data with the selected templates and instantly displays the complete document for review, printing and storage.   

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. Utilising decades of industry experience, as both brokers and underwriters, 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 25 web based processing platforms, and provided a range of systems to insurers, reinsurers, brokers and Managing General Agents.