Insurance and reinsurance firm Everest Global Markets has partnered with Charles Taylor InsureTech to implement a new claims-management product for its international platforms.

Everest Global Markets has implemented Charles Taylor InsureTech’s Trax platform, a fully managed electronic claims files (ECF) write-back-enabled claims-management platform. Trax will enable Everest Global Markets to automate claims notifications and monitor ECF through its write-back capabilities. It will also help eliminate manual processes and data re-entry, Charles Taylor InsureTech said.

“We are extremely pleased Everest Global Markets has selected Trax to help streamline its processing of Lloyd’s bureau claims, improve efficiency, reduce the claims life cycle and achieve faster claims settlements,” said Tony Russell, chief commercial officer for Charles Taylor InsureTech. “Trax fundamentally demonstrates how technology is being embraced in the Lloyd’s market to help automate key processes, as part of its Future at Lloyd’s program, and drive business benefits. This is a significant win for us and is an exciting new partnership for both companies.”

“The implementation of Trax will enable us to minimize operational overheads through reduced claims administration,” said Ashley Lawrence, head of claims for Everest Global Markets. “The automation of claims notifications and monitoring of ECF will also allow us to eliminate manual processes and data re-entry. We look forward to a long-term relationship with Charles Taylor InsureTech.”