Following a successful product launch in London, Deutsche Bank’s innovative platform, Netsett, has attracted interest from a further five industry leaders wanting to pilot the technology. The Deutsche Bank team tells Intelligent Insurer why Netsett is ready to revolutionise the insurance industry.
Brokers Willis and Cooper Gay Swett & Crawford (CGSC), along with Ruschlikon UK members ACE, XL Group and Generali are the latest to participate in pilots of Deutsche Bank’s revolutionary technology platform, Netsett.
Developed in conjunction with Xchanging, Netsett provides global accounting and net settlement using structured data to enable the exchange and settlement of accounting information automatically and efficiently.
While e-accounting, which enables an insurer’s financial accounting function and broker to reconcile, is already in place for many insurers, they still have to go through a manual settlement process, which doesn’t offer netting of different transactions between market participants.
Netsett, Deutsche Bank, accounting