1. The Dutch Insurance Exchange Introducing VNAB & e-ABS
Michel Schaft

2. Dutch Insurance Exchange, active since 1598
Rotterdam Insurance Exchange: 1598
Amsterdam Insurance Exchange: 1611
Na de verovering Antwerpen in 1585 en daaro volgende blokkade van de Schelde: uittocht van kooplieden naar de Noordelijke Nederlanden. Als gevolg daarvan ontstond als eerste de Rotterdamse Assurantie Beurs (1598), gevolgd door de Amsterdamse (1611)
In the past we inspired you and you did well with it, today we’re here to do the same

3. 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
The VNAB members are active in the insurance business of industrial and commercial risks, which are insured according to the usual Exchange methods

4. Local and international insurers
How our local market works…
Local and international insurers
Dutch Insurance Exchange
Broker
Policy Issuance
Claims Handling
Clearing
Market numbers
Insured
Risk

5. 1,300,000,000 EUR per year Premium volume through e-ABS:
Market numbers
*) a policy is underwritten by - on average - 3,7 insurers.

6. 30,000 claims per year
Market numbers

7. 37,500 bookings per month
Market numbers

8. 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
Supervisors (DNB, AFM) claim a more active role in the field
where interventions in the private sector count as as starting point.
a proactive attitude is needed to ensure that the (large) business market will not be curtailed in advance.
Techological advancements change the rules of the revenue in the market
Development in the private market
the private sector will develop as a commodity market with low margins and a shrinking market of "complex" insurance products for consumers with an advisory rolefor intermediaries.
market players will focus on the (large) business market with more added value (expertise) and with better margins: the (large) business broker and insurer as risk specialists.
Social and political influences
Dutch economy needs parties and industries to add to the strength of the economical climate.
This is the time for the Insurance Exchange market to build on and strengthen its prominent position!

9. VNAB presents…
Changed needs: It is essential for stakeholders have a platform to interconnect efficiently and with low costs

10. VNAB presents e-ABS
International large brokers, insurers and loss adjustment firms benefit from a well developed and equipped insurance exchange market.
The Dutch Insurance Exchange Association (VNAB) aims at providing its members with an infra-structure / platform for direct communication and on-line trading for all co-insurance purposes.
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).

11. Our journey from a physical to a digital market place
Starting gradual implementation
e-ABS core team (appointed experts and external IT consultants) addresses all tenders
A request for information was formulated
Thorough discussions with VNAB members about functionality
Content related and financial assessments results in advice to select the supplier
Three suppliers where invited to submit a proposal
Functional design made final
VNAB finalized their functional design for the new e-ABS after thorough discussion with its members during extensive sessions.
Based on this functional design, a request for information was formulated for the construction and hosting of the system.
Three suppliers where eventually invited to submit a proposal. All three tenders where addressed by the Core Team of e-ABS which was set up fir this specific purpose.
This team comprised appointed experts of VNAB members and external IT consultants.
Based on content related and financial assesments, the Core Team advised the Steering Committee e-ABS on the selection of one supplier: Logica
Decision to start a digital marketplace

12. Gradual implementation towards successful usage of e-ABS
Today:
+/- 175,000 registered claims since 2008
+/- 950,000 booking lines since 2011
+/- 40 brokers, +/- 40 insurers and +/- 50 loss adjusters use e-ABS
In 2012:
+/- 52,000 active
policy files
Fully operational
Clearing module operational
Gradual implementation
Placement module operational
Gradually implemented since 2008 and fully operational since 2011
It’s an integrated system with available webservices
500 claims per week
EUR 1,200 Mio premium volume
Production numbers: - active placements in 2012 =± 52,000 - registered claims since 2008 =± 170,000 - processed booking lines since 2011=± 900,000
± 40 brokers, ± 40 insurers and ±50 loss adjusters use e-ABS
Implementation:
03/ 2008 module Claims operational
05/2010 module Placement operational
03/2011 module Clearing operational
Users:
Claims module operational
2008
2009
2010
2011
2012
2013
2014

13. e-ABS: succesfully used for quite some time
Gradually implemented since 2008 and fully operational since 2011
It’s an integrated system with available webservices
500 claims per week
EUR 1,200 Mio premium volume
Production numbers: - active placements in 2012 =± 52,000 - registered claims since 2008 =± 170,000 - processed booking lines since 2011=± 900,000
± 40 brokers, ± 40 insurers and ±50 loss adjusters use e-ABS
Implementation:
03/ 2008 module Claims operational
05/2010 module Placement operational
03/2011 module Clearing operational
Users:
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

14. So..what does e-ABS do?

15. 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

16. e-ABS works with three modules
Placement: all processes needed to get cover and create & maintain a policy
Clearing
Placement
Clearing: Booking of premium & claim amounts
Create file
Quotation procedure
Complete cover
Record agreements
Policy version
Policy versions of this process are the basis for claims
Claims
Notification of claims
Loss adjusting
Claim settlement
Explain each module shortly.
Placement : contains all functionalities to negotiate, place bids, and record and approve agreements.
Claims :
Clearing : key functionality of Clearing is processing of entries.
Claims: all processes needed to issue and settle claims

17. Introducing the players
DEMO
Introducing the players
Followers
Explain each module shortly.
Placement : contains all functionalities to negotiate, place bids, and record and approve agreements.
Claims :
Clearing : key functionality of Clearing is processing of entries.
Loss adjuster
Broker
Client
Lead insurer

18. 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
Herman van de Wetering, Claims specialist
Aon Corporate Solutions
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”
“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
Erik Boers,
Team Leader Claims Netherlands
Zurich Global Corporate Benelux
“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.”
“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”
It’s efficient
data entry is only needed once
time saving on communication, double entry prevention,scanning / copying / archiving, retrieving
reduces throughput time by means of electronic processin
offers support on the daily workprocesses
Less time spend on data entry = more time for personal contact
Time is money which means there are significant cost-advantages
Duco Teijema,
Branch & Marine manager Netherlands
Torus Insurance
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

19. e-ABS is efficient It’s efficient data entry is only needed once
“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
Herman van de Wetering, Claims specialist
Aon Corporate Solutions
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”
“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
Erik Boers,
Team Leader Claims Netherlands
Zurich Global Corporate Benelux
“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.”
“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”
It’s efficient
data entry is only needed once
time saving on communication, double entry prevention,scanning / copying / archiving, retrieving
reduces throughput time by means of electronic processin
offers support on the daily workprocesses
Less time spend on data entry = more time for personal contact
Time is money which means there are significant cost-advantages
Duco Teijema,
Branch & Marine manager Netherlands
Torus Insurance
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 transparent It’s efficient data entry is only needed once
“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
Herman van de Wetering, Claims specialist
Aon Corporate Solutions
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”
“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
Erik Boers,
Team Leader Claims Netherlands
Zurich Global Corporate Benelux
“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.”
“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”
It’s efficient
data entry is only needed once
time saving on communication, double entry prevention,scanning / copying / archiving, retrieving
reduces throughput time by means of electronic processin
offers support on the daily workprocesses
Less time spend on data entry = more time for personal contact
Time is money which means there are significant cost-advantages
Duco Teijema,
Branch & Marine manager Netherlands
Torus Insurance
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. e-ABS is easy to use It’s efficient data entry is only needed once
“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
Herman van de Wetering, Claims specialist
Aon Corporate Solutions
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”
“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
Erik Boers,
Team Leader Claims Netherlands
Zurich Global Corporate Benelux
“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.”
“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”
It’s efficient
data entry is only needed once
time saving on communication, double entry prevention,scanning / copying / archiving, retrieving
reduces throughput time by means of electronic processin
offers support on the daily workprocesses
Less time spend on data entry = more time for personal contact
Time is money which means there are significant cost-advantages
Duco Teijema,
Branch & Marine manager Netherlands
Torus Insurance
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

22. Future steps Growth in volume Increase usage Increase added value
Functionality
Increase efficiency of using the platform
Data sharing
Value chain integration

23. e-ABS has three integrated modules: placement, claims and clearing.
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
e-ABS users need to be member of the VNAB
Fee structure
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