CGI, Norwich Union and Allianz launch next generation account reconciliation system

CGI, Norwich Union and Allianz launch next generation account reconciliation system: "CGI, Norwich Union and Allianz launch next-generation account system
Accounting

Author:
Antony Savvas
Posted:
14:16 14 Dec 2007

CGI Group, Allianz Insurance and Norwich Union have jointly developed a next generation account reconciliation system.

The Account Reconciliation Centre (ARC) system has been launched to ease insurers' and brokers' administrative burden and digitise account reconciliation.

The flexible web-based tool is set to make paper-based insurance account settlement a thing of the past, said the three partners.

Provided as a managed service hosted by CGI and accessed via imarket, the e-commerce portal, ARC has already come through a successful six-month trial at Allianz Insurance, Norwich Union and a range of their brokers.

ARC is now being made available to the wider broker community. By enabling automatic matching of all but the exceptional items, ARC brings savings in both time and effort, dramatically reducing the administrative burden associated with the traditional account settlement process. It allows brokers to view all outstanding debt in real-time.
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Donna Lovewell, head of collections at Norwich Union, said, 'Throughout ARC's development and pilot programme stages, CGI has incorporated feedback from both insurers and brokers"