Insurance transaction processing will become unrecognisable over the next 5 to 10 years as innovation and the digital age gather pace.
The Structured Data Capture initiative, announced by the LMG today, is really just the thin edge of the wedge. Consistency and the standardisation of processes lends itself to robotic automation which together with Blockchain platforms like B3i will transform London Market processing.
The so-called Structured Data Capture (SDC) removes the need to re-key data and reduces errors and went live for terrorism, financial lines, marine, property & casualty, according to the statement.
http://www.intelligentinsurer.com/news/london-market-removes-need-to-re-key-data-12726
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