Seattle-based Safeco Corp. and Aon Risk Services have introduced an online interface designed to improve communications between the two companies, thereby improving service for risk managers and contractors.By making it easier to report new bonds, and eliminating errors in the renewal and billing of in-force bonds, Aon and Safeco will reduce the day-to-day involvement of risk managers and contractors without compromising their control.
The interface was developed by Safeco, the fifth largest U.S. surety writer, and Aon, a Chicago-based risk management and insurance brokerage. The technology uses the latest ACORD XML standards and improves speed and accuracy from new-business issuance through bond renewal, including endorsements, cancellations and reinstatements.
"Safeco is on a mission to make the experience of buying, selling and owning insurance and surety bonds easier than anyone else. Our partnership with Aon is an important step toward bringing that mission to life," says Mike Peters, president of Safeco Surety. "With this technology breakthrough comes a new age of speed and information integrity."
The streamlined billing and instant and accurate bond reporting the Aon/Safeco interface supports can shave days, and even weeks, off previous processes. With less time spent working on bond data and billing reconciliation, Aons client advisory and fulfillment team can better see the road ahead and keep clients abreast of upcoming transactions months in advance.
Source: Safeco
