E-settlement - Accounting for lost time online
Charlie Thomas evaluates what progress has been made in the nascent world of online ledgers
The commonly perceived benefits of the internet for an insurance broker are having an eye-catching website and promoting online quote-and-buy policies, yet there has been little coverage of how the web can benefit back-office staff.
Web-based account settlement functions arrived in June 2007 with Axa's e-settlement accounting tool, which permitted brokers to access real-time ledgers via imarket. This function enabled premiums to be paid straight away and allowed brokers to query incorrect
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