12 June 2014News

Aon Benfield to host major e-commerce insurance meeting in London

has announced that the global annual meeting of the Ruschlikon e-commerce initiative will take place at the firm’s UK headquarters in London on June 17th.

The meeting will see members of Ruschlikon’s steering committees gather to discuss the adoption of electronic processes in the London and global insurance and reinsurance markets.

Member organizations of Ruschlikon comprise leading global reinsurers including SCOR, Swiss Re and Munich Re, as well as intermediaries.

Aon Benfield and Aon Risk Solutions have been at the forefront of Ruschlikon since its inception in 2008.

The initiative has resulted in significant changes across the insurance and reinsurance industry, particularly in the utilization of international ACORD (the Association for Cooperative Operations Research and Development) global data standards.

Those companies that have chosen to improve their e-commerce processes in line with Ruschlikon and ACORD protocols have enjoyed the benefits of a far more efficient placing and accounting solution, a reduction in paperwork and manual procedures, and fewer inaccuracies in data processing.

Peter Mungeam, Aon Benfield Asia Pacific chief operating officer of client technical services and chair of the Ruschlikon Asia Pacific steering committee, says: “We are very proud to be hosting Ruschlikon’s main annual meeting in London, the home of one of the world’s most renowned insurance and reinsurance markets.”

He concludes, “Processes in electronic trading as well as electronic accounting and settlement have been significantly improved as a result of Ruschlikon and ACORD’s work, and we hope that the global Ruschlikon meeting will allow us to consider and implement further proposals for the advancement of electronic initiatives.”