claimatrix conforms to ISITC Europe "Claims - best practice guidelines"

London - 26 May 2010

The claimatrix collaborative claims platform was recently presented to the ISITC Europe leadership team and was shown to conform to the ISITC Europe best practice guidelines for Claims management.

ISITC Europe are therefore pleased to be able to confirm that the claimatrix service meets the requirements for efficient management of the claims workflow between participating parties and provides claims aggregation and net settlement opportunities as laid out in the ISITC Europe guidelines. Graeme Austin, CEO ISITC Europe, commented “I am very pleased that our best practice guidelines have been taken by claimatrix as a benchmark to ensure its product meets market needs. We encourage all claims management providers to do the same.”

Claims in general are one of the last bastions of manual processing within the transaction processing life cycle and ISITC Europe has spent a considerable amount of time defining best practice with regard to the processing of interest claims, as well as to describe industry leading practice in terms of its automation. The culmination of this activity was the Claims - Best Practices Guidelines, revised and published by ISITC Europe in July 2009. Stuart McKinlay, CEO claimatrix, “claimatrix eliminates the expensive, error-prone processes associated with manual claims issuance and control”.

Specifically, claimatrix is able to:
• Automate in real-time the numerous types of claims normally communicated via letter, email, faxes and telephones
• Produce enterprise wide counterparty payables/receivables exposures
• Consolidate claims control across business entities and offer claims aggregation and net settlement opportunities

claimatrix is provided as a Secure Web-based SaaS service which requires no software installation and comes with data collection templates, process and working practices standards for manual and automated input.

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