Pro.

What we do

STRIPE®

Connecting the insurance and reinsurance world

Overview

Understanding your challenges

Increased competition, regulation and globalisation are the driving factors which are causing businesses to focus on modernisation. Streamlining back office processes, improving settlement timeframes and reducing cost through greater standardisation and automation is a key consideration in growth strategies. Our STRIPE® platform will improve process efficiency whether you are an insured, reinsured, broker or carrier.

What is STRIPE®

STRIPE® is a web based platform that enables principal to principal processing of post placement/ bind transactions including claims, premiums, bordereaux, technical and financial accounts.

It is simple to implement, has no impact on existing IT infrastructure and can sit virtually anywhere in the processing chain. Data can be processed using a web based application, a data upload or an integrated solution. The STRIPE® gateway transacts and communicates with carriers using their preferred message format: through the web, via e-mail, the London Market Bureau, or ACORD messaging (EBOT and ECOT).

Settlements are made directly between insureds / reinsureds and carriers; a credit control interface in STRIPE® simplifies the reconciliation and credit control process.

A full audit trail and oversight control of the collection/ payment process and carrier performance is provided while a fully integrated document repository provides universal access to risk, claim and transactional documents. High level encryption and defined access rights for different user sets ensures that confidentiality and data security is maintained.

STRIPE® compliments the services that Pro provides to its clients, whether through delivering transformation and operational improvements, simplifying processing and data distribution or be integral to a legacy solution.

STRIPE®  delivers:

  • Speed up your settlement timeframes
  • Reduce costs
  • Improve data quality
  • Reduce processing times through re engineering and automation
  • Access to markets more efficiently

A growing community

Since its launch in 2010, the STRIPE® user community has progressively grown. It now connects over 350 global entities including insureds, risk managers, cedants, brokers, insurers and reinsurers; all of which collectively exchange thousands of transactions each year.

Please visit www.stripeglobalservices.com