The Dutch Insurance Exchange
Introducing VNAB & e-ABS
Michel Schaft
Dutch Insurance Exchange, active since 1598
Rotterdam Insurance Exchange: 1598
Amsterdam Insurance Exchange: 1611
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Introducing VNAB
VNAB (Dutch Insurance Exchange Association) is the Dutch organization
of (Register) Brokers and Insurers (including authorized agents) active on
the Exchange
4 important ‘roles’:
 Facilitating the marketplace (e-ABS)
 Knowledge and knowledge sharing
 Advocacy
 Marketing and communication
3
How our local market works…
Local and international insurers
Dutch Insurance Exchange
Broker
- Policy Issuance
- Claims Handling
- Clearing
Insured
Risk
4
Premium volume through e-ABS:
1,300,000,000 EUR
per year
5
*) a policy is underwritten by - on average - 3,7 insurers.
30,000 claims per year
37,500 bookings per month
Why change to a digital marketplace?
Margins erode
so focus on added value services & efficiency
Technological advancements
change of the businessmodels in the market
Transparency is key
supervisors claim a more active role
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VNAB presents…
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e-ABS is an integrated system that facilitates the co-insurance process
between Brokers, Insurers and Loss Adjusters on Placement, Claims and
financial processing (Clearing).
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Our journey from a physical to a digital market place
Thorough discussions
with VNAB members
about functionality
A request for
information was
formulated
Functional design
made final
e-ABS core team
(appointed experts and
external IT consultants)
addresses all tenders
Three suppliers
where invited to
submit a proposal
Starting gradual
implementation
Content related and financial
assessments results in advice to
select the supplier
Decision to start a
digital marketplace
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Gradual implementation towards successful
usage of e-ABS
In 2012:
+/- 52,000 active
policy files
Fully operational
Today:
+/- 175,000 registered claims
since 2008
+/- 950,000 booking lines
since 2011
+/- 40 brokers, +/- 40 insurers
and +/- 50 loss adjusters use
e-ABS
Clearing module operational
Placement module operational
Claims module operational
2008
2009
2010
2011
2012
2013
2014
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e-ABS: succesfully used for quite some time
•
•
•
•
In total +130 companies use e-ABS
In order to use e-ABS, companies have to be members of the VNAB
Membership starts at +/- EUR 3,000 (broker) and EUR 5,900 (insurer)
License fee e-ABS depends on role (broker/insurer): +/- EUR 2,200,- / 2,500,- per user
So..what does e-ABS do?
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So... what does e-ABS do?
•
Webbased system:
• Accessible via webbrowser
• Webservices available for
connections with backoffice
systems of insurers and brokers
•
System supports full placement,
claims and clearing process
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e-ABS works with three modules
Placement: all processes needed to get cover
and create & maintain a policy
Placement
Create file
Quotation
procedure
Complete
cover
Record
agreements
Policy
version
Policy versions of this process are
the basis for claims
Clearing
Claims
Notification
of claims
Loss
adjusting
Claim
settlement
Clearing:
Booking of
premium &
claim
amounts
Claims: all processes needed to issue and
settle claims
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DEMO
Introducing the players
Followers
Loss adjuster
Broker
Client
Lead insurer
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How do participants see the benefits?
“It is a system where parties can share information in a
very efficient way and that allows insurers to comply
more easily to the demands of their in- and external
control systems”
The biggest advantage of e-ABS is shorter
throughput time. “It saves weeks on average per
claims file. Furthermore it is my experience that
70% of the claims are finalized within 2 weeks."
Gielijn Arends,
Head of Claims Marine & Reinsurance
Amlin Europe
Going back is no option for Peter. “For that this unique
system is offering too much advantages: a policy file
accessible on 1 location for everyone and the efficiency
benefits of the financial processing of Clearing”
Herman van de Wetering,
Claims specialist
Aon Corporate Solutions
“Especially as to follow insurer it is good that
thanks to e-ABS you are quickly aware of the
current status of the claim, and that you can see
all the relevant correspondence. You can directly
adjust the claim policy accordingly ”
Peter Bastiaans,
Head acceptance Cargo Transport insurance
HDI Gerling
“As Lloyd’s coverholder I can show my auditors and other
business partners in a good and relatively easy way how
transparent the way of working is for placement, claims
and financial clearing. Also it shows how we can track
progress, even if we are not the leading party.”
Duco Teijema,
Branch & Marine manager Netherlands
Torus Insurance
Erik Boers,
Team Leader Claims Netherlands
Zurich Global Corporate Benelux
“In the past, the survey report needed to be sent
8-fold to the broker, but now all the parties
involved have insight in progress directly”
Hans de Hoog,
general manager
Lenkeek, Laarman & De Hosson
“..other good points are the efficiency, the archive function, security and the fact that the system is user friendly,
not connected to a physical workspace and that it supports chains integration”
Jack van Nielen, operations manager
AON risk solutions
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e-ABS is efficient
“It is a system where parties can share information in a
very efficient way and that allows insurers to comply
more easily to the demands of their in- and external
control systems”
The biggest advantage of e-ABS is shorter
throughput time. “It saves weeks on average per
claims file. Furthermore it is my experience that
70% of the claims are finalized within 2 weeks."
Gielijn Arends,
Head of Claims Marine & Reinsurance
Amlin Europe
Going back is no option for Peter. “For that this unique
system is offering too much advantages: a policy file
accessible on 1 location for everyone and the efficiency
benefits of the financial processing of Clearing”
Herman van de Wetering,
Claims specialist
Aon Corporate Solutions
“Especially as to follow insurer it is good that
thanks to e-ABS you are quickly aware of the
current status of the claim, and that you can see
all the relevant correspondence. You can directly
adjust the claim policy accordingly ”
Peter Bastiaans,
Head acceptance Cargo Transport insurance
HDI Gerling
“As Lloyd’s coverholder I can show my auditors and other
business partners in a good and relatively easy way how
transparent the way of working is for placement, claims
and financial clearing. Also it shows how we can track
progress, even if we are not the leading party.”
Duco Teijema,
Branch & Marine manager Netherlands
Torus Insurance
Erik Boers,
Team Leader Claims Netherlands
Zurich Global Corporate Benelux
“In the past, the survey report needed to be sent
8-fold to the broker, but now all the parties
involved have insight in progress directly”
Hans de Hoog,
general manager
Lenkeek, Laarman & De Hosson
“..other good points are the efficiency, the archive function, security and the fact that the system is user friendly,
not connected to a physical workspace and that it supports chains integration”
Jack van Nielen, operations manager
AON risk solutions
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e-ABS is transparent
“It is a system where parties can share information in a
very efficient way and that allows insurers to comply
more easily to the demands of their in- and external
control systems”
The biggest advantage of e-ABS is shorter
throughput time. “It saves weeks on average per
claims file. Furthermore it is my experience that
70% of the claims are finalized within 2 weeks."
Gielijn Arends,
Head of Claims Marine & Reinsurance
Amlin Europe
Going back is no option for Peter. “For that this unique
system is offering too much advantages: a policy file
accessible on 1 location for everyone and the efficiency
benefits of the financial processing of Clearing”
Herman van de Wetering,
Claims specialist
Aon Corporate Solutions
“Especially as to follow insurer it is good that
thanks to e-ABS you are quickly aware of the
current status of the claim, and that you can see
all the relevant correspondence. You can
directly adjust the claim policy accordingly ”
Peter Bastiaans,
Head acceptance Cargo Transport insurance
HDI Gerling
“As Lloyd’s coverholder I can show my auditors and other
business partners in a good and relatively easy way how
transparent the way of working is for placement, claims
and financial clearing. Also it shows how we can track
progress, even if we are not the leading party.”
Duco Teijema,
Branch & Marine manager Netherlands
Torus Insurance
Erik Boers,
Team Leader Claims Netherlands
Zurich Global Corporate Benelux
“In the past, the survey report needed to be sent
8-fold to the broker, but now all the parties
involved have insight in progress directly”
Hans de Hoog,
general manager
Lenkeek, Laarman & De Hosson
“..other good points are the efficiency, the archive function, security and the fact that the system is user friendly,
not connected to a physical workspace and that it supports chains integration”
Jack van Nielen, operations manager
AON risk solutions
20
e-ABS is easy to use
“It is a system where parties can share information in a
very efficient way and that allows insurers to comply
more easily to the demands of their in- and external
control systems”
The biggest advantage of e-ABS is shorter
throughput time. “It saves weeks on average per
claims file. Furthermore it is my experience that
70% of the claims are finalized within 2 weeks."
Gielijn Arends,
Head of Claims Marine & Reinsurance
Amlin Europe
Going back is no option for Peter. “For that this unique
system is offering too much advantages: a policy file
accessible on 1 location for everyone and the efficiency
benefits of the financial processing of Clearing”
Herman van de Wetering,
Claims specialist
Aon Corporate Solutions
“Especially as to follow insurer it is good that
thanks to e-ABS you are quickly aware of the
current status of the claim, and that you can see
all the relevant correspondence. You can directly
adjust the claim policy accordingly ”
Peter Bastiaans,
Head acceptance Cargo Transport insurance
HDI Gerling
“As Lloyd’s coverholder I can show my auditors and other
business partners in a good and relatively easy way how
transparent the way of working is for placement, claims
and financial clearing. Also it shows how we can track
progress, even if we are not the leading party.”
Duco Teijema,
Branch & Marine manager Netherlands
Torus Insurance
Erik Boers,
Team Leader Claims Netherlands
Zurich Global Corporate Benelux
“In the past, the survey report needed to be sent
8-fold to the broker, but now all the parties
involved have insight in progress directly”
Hans de Hoog,
general manager
Lenkeek, Laarman & De Hosson
“..other good points are the efficiency, the archive function, security and the fact that the system is user friendly,
not connected to a physical workspace and that it supports chains integration”
Jack van Nielen, operations manager
AON risk solutions
21
Future steps
Growth in volume
 Increase usage
Increase added value
 Functionality
Increase efficiency of using the platform
 Data sharing
 Value chain integration
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e-ABS key take aways
The VNAB is the Dutch organization for national and international brokers and
insurance companies active on the Dutch Insurance Exchange.
e-ABS is an integrated system that facilitates the co-insurance process between
brokers, insurers and loss adjusters on placement, claims and financial clearing.
e-ABS is used by 130 parties handling EUR 1.3 BIO premium volume per year,
30,000 claims per year, 37,500 bookings per month
e-ABS has three integrated modules: placement, claims and clearing.
The value of e-ABS:
• Saves a lot of time and money
• Offers a better overview and more transparency
• Increases quality
• Is user friendly
Want to know more? Please visit us at the information stand
or visit www.VNAB.nl/lloydstechday
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