With considerable first-year market support, Lloyd’s has signed a two-year extension deal with Adsensa to continue providing managing agents with access to technology that provides automated support for fast and consistent checking of insurance slips.
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To assist brokers and managing agents’ staff to check insurance documentation more easily Adsensa today announces an online, enterprise version of its Wordsensa QA software designed to work seamlessly with organisations’ existing business operations. This quality assurance technology will assist in the consistent delivery of contract certainty.
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I recently spoke with a large company that was preparing to drastically reduce the number of template contracts that its lawyers and business people had to work with. The process was going to involve close review of its current templates, of which there were dozens. That seemed like a daunting prospect. Around the same time, I first heard of Wordsensa Professional, a technology aimed at greatly facilitating this sort of task.
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Tolstoy’s War and Peace is a mere 1,500 pages compared to the 5m or so generated every year by the London market.
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This article appeared in Lloyd’s List on September 6, 2007. For more information visit www.lloydslist.com
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To achieve higher levels of quality assurance in insurance contracts, the Lloyd’s market has chosen Wordsensa technology to assist Managing Agents in achieving Pre-Bind Quality Assurance from 1 July 2007. This will make automated support for checking insurance contracts available across the market, making it easier, faster and more cost-effective to do business in London. Following successful pilots of Wordsensa QA, Lloyd’s has licensed this unique analytic technology from Adsensa, the London Market’s leading supplier of slip and policy checking tools.
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After working closely with some of London’s top insurance firms Adsensa, the London Market’s leading supplier of document analysis and comparison tools, announces Wordsensa QA. Using unique analytic technology, Wordsensa QA helps brokers, managing agents and insurers meet the challenge of improving slip and policy accuracy while complying with all the new regulations and time pressures created by Market Reform.
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Lloyd’s is looking at ways to make it easier for underwriters and brokers to ensure that insurance contracts are right first time by piloting technology that will check insurance slips automatically.
Working with a user group of market practitioners, Lloyd’s has teamed up with Adsensa – the London Market’s leading supplier of slip and policy checking tools – for a two-month pilot of its Wordsensa technology.
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