News Product05 Jul 2019

New software to improve insurance contracts for customers

Lloyd's has launched a new software tool called 'Contract Confidence' which seeks to improve the quality of insurance contract review for both customers and insurers globally. It benefits customers by creating more right-first time contracts which means fewer disputes, faster claims resolution and lower policy costs. Meanwhile, the tool helps insurers in Lloyd's in reducing administration and claims costs which improves profitability consequently.

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