Norwich-based insurance technology company Validus-IVC is celebrating landing a national insurance award for one of its key platforms.
Mike Srokowski, CEO of Validus, a former EDP Future 50 company which now employs more than 150 staff, said: “2016 has been a busy year for Validus and this latest award recognises the outstanding success of our technology and partnerships in the motor insurance industry.”
The award honoured the role played by Validus’ verify™ subrogation portal which was launched earlier this year with the backing of leading motor insurers Aviva and Ageas.
The portal enables insurance companies to reduce the cost of handling third party motor claims following the 2014 Competition and Markets Authority ruling which left insurers to find better ways of working to reduce the cost of non-fault claims.
Verify™ reduces the number of “touches” between two insurers, matching claims, views on liability and requests for payment without the need for letters or phone calls between the insurers.
Validus Chief Operating Officer Edwyn Van Rooyen said: “We owe a massive thank you to all our clients who have worked with us on this initiative, as well as our own team for their hard work.
“Since launch we now have more than 70% of the market signed up to the portal with 10 insurers live and a further three confirmed to go live soon” he added.
Validus has made the final shortlist in a further four industry awards this year, the latest for the Insurance Times Awards to be held in December.
The success for Validus, which also has an office in Bath, was one of 14 awards made at the black-tie presentation night held last week (22 September 2016) at The Royal Garden Hotel, London.
Pictured at the awards ceremony, left to right, back: John Hall, Gary Morley, Mike Srokowski, Edwyn van Rooyen (all Validus), Sam Thomas (AXA), Front: Mike Taylor (Ageas), Richard Lord, Chris Sawford (both Validus), Gareth Williams (Admiral). Photo: Insurance Times/Simon Wright Photography