RSA Insurance Group has been recognised in the prestigious Treasury Today Adam Smith Awards 2012. This category includes any solution which is in the pipeline, has been implemented as a direct result of macroeconomic events or is particularly innovative. Previous winners include HP, Google and Adidas.
RSA are working alongside Xchanging and their partners on a new and innovative netting and settlement solution for the global insurance market, and will be one of the first insurance companies in the world to take part in the pilot programme.
The netting and settlement solution is to design, deliver and implement a centralised, multi-currency engine to drive processing efficiency, capital efficiency and control into the management of the premium and claims flows between global cedents / brokers and carriers.
William McDonnell, Group Financial Controller at RSA, comments: “We are delighted to have been recognised by Treasury Today as pilot partner for this pioneering solution. We are enthusiastic about its potential to generate a range of significant benefits both for us and for the global insurance market. This award is a testament to that potential.”
