XL Catlin adopts self-service claims tool for marine insurance customers
XL Catlin has deployed an online claims reporting tool for marine insurance customers in North America.
The new platform is powered by RightIndem, a SaaS cloud provider of self-service capabilities for first notice of loss submissions. XL Catlin policyholders can now share text or visual data relating to an incident at a time when trade, waterway traffic and construction activities are increasing in the region, according to Anne Elder, XL Catlin's chief underwriting officer for marine business in the Americas,
“We need to be ready to expeditiously address any potential claims for our growing Marine client base and that starts by making it easy for our clients to report a loss," Elder added, in a statement.
By adopting RightIndem’s technology, XL Catlin marine customers can report claims around the clock on mobile, tablet or desktop, according to the company.
“Receiving this information quickly will help our marine claims team assess the claim straightaway to bring us closer to resolution quickly,” said Conor Murray, head of marine claims–North America.
The deployment of XL Catlin's claims reporting tool follows news of European insurer AXA entering a $15.3 billion agreement this month to purchase the Bermuda-based company. AXA cited a willingness to become more focused on the P&C insurance risk market rather than the life insurance market, especially in the U.S., as a reason for the move.
With the pending acquisition, AXA gains access to two key innovation platforms: XL Accelerate, which focuses on innovation and insurtech; and XL Innovate, which makes direct investments in emerging companies. AXA already sports its own VC fund, AXA Strategic Ventures, but notes XL Catlin will give it access to newer markets.