Xchanging has a wealth of operational experience and controls in place to ensure that expert fees are appropriately and accurately handled.
Insurers in the London market spend more than £1bn a year on fees for third party experts but, until now, they have lacked an efficient way to monitor and manage their spend. Verometrix answers this need. Verometrix is a unique, integrated, end-to-end expert management processing solution for the Lloyd's and company market.
Verometrix complements Xchanging’s existing Fees Direct agreement and settlement service and delivers:
Benefits for Insurers
Benefits for Experts
Verometrix Business Data Reporting Software brings invoicing into the digital age, making business flow more efficiently across the London market.
Our whitepaper, The Truth Behind the Numbers, discusses how well the London market manages the process of selecting and paying the third party experts it uses. Download your copy here.