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Electronic Market Reform Contract Endorsement (e-MRCE) - General issues FAQ
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Click on each question to take you to the answer...
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1. This just seems like to much change.
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2. Isn’t this just about job cuts?
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3. I already waste too much time wading through emails. It would be much easier for me to talk it through with the broker?
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4. How do you expect me to get my underwriters to measure emails that they send?
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5. I can see the benefit for brokers but I can't see benefits for me as an insurer.
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6. Won't this prove too expensive for small brokers??
-------------------------------------------------------------------------------- 1. Change is a fact of life. Organisations will continue to have to be flexible and agile in responding to changing economic conditions and external business threats. The reason we change is to work better and more efficiently. Email is a very simple existing tool that promises to deliver a lot of benefit. We certainly are faced with a lot of change … but then this market is faced with a bit of a backlog, not having seen much change over its history. Top
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2. Broker and insurer organisations both wish to ensure they remain competitive and deliver value to their customers and shareholders. This change is about removing inefficient processes and freeing up brokers and underwriters to work more productively.
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3. For complex endorsements it is expected that brokers will still spend time discussing these with the underwriter. However, by receiving non-complex endorsements via email will allow you to deal with these in your own time and possibly assigning work to underwriting staff in a more structured fashion.
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4. Very simple means of measuring email usage are possible. Absolute accuracy is not essential, but without measurement there is little chance that your organisation will know whether change is actually happening. --------------------------------------------------------------------------------
5. Each organisation is different. However, some insurers have already reported significant benefits in how they organise their work and underwriter responsibilities more effectively. Work at different levels of complexity can be assigned to different individuals and to be dealt with at an appropriate time of the day.
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6. Email is a simple technology that even small brokers are likely to have in place already. Adopting email practices may potentially open up new contacts and business for small brokers
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Steve Hulm provides content for this page Back to e-MRCE
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