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Midas Underwriting orders Transactor for claims management

Insurance software provider, Transactor Global Solutions Ltd. (TGSL) has been selected to provide a claims management solution for Midas Underwriting Ltd (Midas) which specialises in the provision of products to intermediaries.

Following a thorough review of the market, Midas selected Transactor as its core IT platform in 2012. TGSL delivered a complete software solution for motor and household that included its EDI (Electronic Data Exchange) Toolset, which enables MGAs and insurers to accept messages from EDI capable broker platforms, and transmit outbound EDI “insurer” messages from the Transactor platform.

B2B website transactional capability is provided by Screenbuilder 5, which enables the Midas in-house development team to take care of the changing customer journey and content themselves. Plus policy administration, agency management, and accounting functionality are also included.

Ray Vincent, CEO, TGSL, said, “It was a great order for us to win. We have become increasingly important as a supplier of solutions to MGAs and insurers in the direct and B2B markets, and this all forms part of our vision for Transactor as a best of breed solution in a number of key areas of the market.”

The new claims solution is being developed in conjunction with TGSL’s partner company The Claims Cloud, which is due to be launched next year.

Vincent, continued, “The claims solution is being developed as a ‘plug-in’ to Transactor to enable us to keep the change programs separate from the main code line, which we think is important if we want to achieve maximum agility. We have a number of strategic technical objectives where we believe cloud technology will be decisive, and claims management is definitely one of them.”

Alan Hunter, Managing Director, Midas, said, “Our relationship with TGSL demonstrates our desire to develop long term working relationships with our intermediary partners, providing creative business solutions extending to incorporate the most convenient mechanisms for transacting business. We are looking forward to playing a key role in the development of The Claims Cloud.”