Advent Claims launches new online claims platform

Advent Claims, a division of Advent Insurance Management, has launched a new proprietary web-based claims management system for MGAs.

Advantage is, the company claimed, designed to alleviate the increasing pressures on insurers’ delegated authority relationships, primarily caused by changes in regulation, prompting some coverholders to turn to capacity in local markets.

The system forms an integral part of Advent’s global claims third party administrator proposition, which supports clients in the US, Canada and Australia.

Paul Bermingham, director, Advent Claims said: “Coverholders are struggling to comply with regulatory demands. Some are seeking additional commissions or moving to local markets, while some insurers have drastically cut their TPA panels. Advantage is a powerful and timely development, which will enable the delegated authority market to comply with these and other regulations while becoming much more efficient. It allows business relationships to thrive and transforms the profit potential of the delegated authority model.”