It will mean greater operational efficiencies and cost savings for Guy Carpenter
Guy Carpenter has selected Charles Taylor Insurtech as a partner in its future proofing programme.
The partnership involves the creation of a global, cloud-based document management solution (DMS) to optimise the businesses processes.
Charles Taylor insurtech will help migrate existing document repositories, including the migration and archiving of documents and their associated data from numerous legacy systems.
Many (re)insurers rely on numerous old legacy systems as they are relatively stable and able to handle large amounts of data, but they do not often offer the most effective process.
The DMS solution will also be integrated with various Guy Carpenter systems and processes including contract lifecycle management and client servicing systems.
Charles Taylor InsureTech has been working with Guy Carpenter for some time and the reinsurer was already using its Kcenter Document Management System (DMS) in the EMEA (Europe, Middle East and Africa).
Kcenter DMS is a tailored process automation and document management solution that allows access to current information.
It follows reinsurace firm, Everest Global Markets selecting Charles Taylor InsureTech’s platform to speed up its claims management capability last week. Everest Syndicate 2786 was established in 2015 to further exand Everest’s Interbatuiba
Fit for purpose
Matthew Snape at Charles Taylor InsureTech, told Insurance Times: “Over time it became clear that KCenter was a better fit for purpose than Guy Carpenter’s multiple existing platforms.
“For Guy Carpenter, this will bring great operational efficiencies. It moves them from operating on multiple systems to one single DMS platform, which will greatly reduce costs. It also makes processes more transparent as there will be one global shared platform for the business.”
Previously Guy Carpenter was using multiple DMS platforms and systems each with their own costs and requirement for support. These were mainly legacy systems as is common when a company of this size is merged.
John Crichton, managing director and chief information officer at Guy Carpenter, said: “The partnership with Charles Taylor InsureTech further progresses Guy Carpenter’s commitment to leveraging highly available, secure, and flexible tools that position us to deliver value to our partners.”
Meanwhile Tony Russell, chief commercial officer at Charles Taylor InsureTech, concluded: “This is a significant win for Charles Taylor InsureTech. The delivery of a cloud-based, global Document Management System is a key enabler for the business transformation programme Guy Carpenter are undertaking.”
Charles Taylor InsureTech was established to help insurance businesses transform through technology solutions. It works with major brokers, carriers, and other insurance entities across the value chain.