Firms' losing out over old systems
Insurance firms lose more than £4.5m per day in revenues due to time wasted looking for documents, a...
Insurance firms lose more than £4.5m per day in revenues due to time wasted looking for documents, according to research.
The survey by Invu, an electronic management software company, found that 95% of insurance firms have been affected by inefficient document management. In addition, 69% of people working in insurance firms spend up to one hour and over £95 per day looking for documents.
David Morgan, chief executive officer at Invu, said: "Insurance companies waste more revenue per day than any
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on E-Trading
imarket adds another MGA to portfolio
Industry-owned imarket has pushed further into the managing general agent sector with Chapman and Stacey Underwriting launching a liability product onto Open GI’s platform via its service.
Aviva enhances Minifleet on Fast Trade to cover more vehicles
Aviva has enhanced its Minifleet proposition to allow brokers to place up to 20 vehicles at new business on its proprietary Fast Trade platform.
Survey: Rebuilding trust in commercial combined
Commercial combined etrade was meant to simplify placement. Instead, brokers say rigid systems, slow referrals and automated declines are making one of the market’s most important products harder to trade. Martin Friel reports
Commercial transformation boss Flynn to leave Intact UK
Intact UK’s commercial lines chief transformation director Rob Flynn is set to become the latest senior figure to leave the business in the wake of integration with NIG, Insurance Age has learned.
Open GI CEO Badley outlines plan to attract more insurers to its panel
Open GI CEO Simon Badley has promised insurers it will make its brokers easier to deal with and more efficient to attract further providers onto its panel.
Broker Expo 2025: The more specialist the broker, the stickier the customer
Specialising and being an expert in a field means “your customer base will be stickier,” Simon Mabb, head of UK regions at AssuredPartners, claimed this morning.
The stats: Insurer competition drives softening of commercial rates in Q2 2025
The Acturis Commercial Broking Index shows commercial combined and combined liability rates fell into negative territory, while growth slowed across fleet, property owners, and packages in Q2. Ida Axling reports.
Iprism adds excess of loss product to Acturis
Iprism, the specialist construction, property and private clients MGA, has expanded its excess of loss via the Acturis trading platform.