As Netsett is unveiled to the market, the pioneers behind the technology, Paul Duffy, director, Capital Markets & Treasury Coverage at Deutsche Bank and Max Pell, managing director of Xchanging’s UK Insurance Business, explain why this unique platform is set to change the insurance industry for good.
Building upon a technology base which can currently be seen within the London Market, Netsett—a strategic partnership between Deutsche Bank and Xchanging—can substantially increase both efficiency and accuracy for insurers.
Providing global accounting and net settlement through the use of structured data, Netsett facilitates the transfer of claims and premium data both within global insurance groups and between global cedants, brokers and carriers.
“We’ve taken part of what we do in London and re-platformed it to make it work globally,” says Max Pell, managing director of Xchanging’s UK Insurance Business.
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Deutsche Bank, Netsett