Electronic Trading

Electronic Trading

Electronic trading is the quickest and most efficient method of you doing business with us. Whether you choose to trade with us via your own bespoke system or one of the generally available insurance broking systems from a Software Vendor, we can support you with a range of high quality products.

Guidelines for using third parties

If you transmit business with us via a third party, we will consider them as your Agent for whom you accept full liability for their actions and any resulting omissions or breaches of the requirements outlined on these documents.

Please inform us of the presence of any website or e-trading platform through which you operate or intend to operate on which our name, rates or products appear and seek our agreement of this. Similarly, this applies to any link to our website.

Customer Newsletters

To simplify the documentation requirements for renewal business we will provide Customer News letters for EDI business via SWH rather than manual letters. This will help to streamline the renewal process in your office as newsletters will be generated and printed as and when they are required. This will help ensure customers automatically receive the correct version of the newsletter relevant to their policy. Also, you will not have to re-order and manage stocks of Customer News letters within your office.

Procedures

It is important to follow the procedures outlined by Allianz Retail and your system provider when using the system and to follow system (rate) update procedures.

This means:

• you will transmit in and out every day.
• ensuring you are using the most up to date version of software and rates as issued to you by the Software Vendor.
• you must not impede the recommended daily processing and reporting recommended by your Software Vendor.
• any applicable rate guarantee relevant at that time will apply. You should be aware of any Software Vendor conditions applying to guarantees.
• if you do not operate via EDI you can bind or confirm cover within the terms of your quote system or any agents underwriting guide that Allianz Retail may issue from time to time.

In connection with Cover Notes, you will have the benefit of Electronic Cover notes via the imarket facility.

See the Cover Notes section for more details

Documentation

Copies of the following documents will need to be retained:

• A copy of all Statements of Fact / proposals for a given risk
• Evidence of No Claims Discount entitlement (for Motor risks)
• Premium Breakdown
• Additional Drivers Form (where applicable)
• Copies of appropriate cover notes / certificates
• Copies of all schedules issued

To assist future audit procedures and record keeping you must store the documentation listed above along with any other supporting documentation that may be requested for each policy, within 10 days of the date of inception.

The documents listed above must be stored safely and be accessible for our inspection within 2 working days from the date of request. For electronically transmitted items, please ensure appropriate internal procedures for copying and storage.

Requirements

• Where we request, you will need to retransmit messages to us on request.
• If the recipient has reason to believe any message is not intended for him/her, the recipient should notify the sender and delete information contained in the message from the system but not the record of its receipt.
• All EDI messages should be complete, accurate and secure against being altered during transmission.
• You will also ensure that appropriate information is contained in the message to clearly identify the sender and recipient.
• In order to verify messages sent and received, you must maintain a transaction log including details, without any modifications, of all messages sent and received by you. We cannot accept liability for any risk where you or your system cannot produce such verification.
• If requested by us, you will need to make exception reports available for the following:
  • Unsent transactions; a list of all committed but un-transmitted transactions.
  • General transaction summary based on a set of specified criteria.
  • Monthly, or on request, cover note and Certificate audit trails.
  • Transmission and retransmission failures listing messages that have not been confirmed as received by us from the EDI network used by us both.
  • In Force transactions providing brief details of cover documents currently in force.
  • Renewal exception reports. You will need to ensure that renewal exception/error reports are sent immediately to us to enable us to rectify the problem. These should be faxed to us on 01483 529538 once you have run your daily reports.
• You will be required to take sufficient back up from the system to ensure uninterrupted customer service without loss of data.
• We will agree suitable alternative provisions for prompt handling of business with us in the event the system is disrupted or is out of use for any reason. Full details of your back up procedures and disaster recovery arrangements must be provided on request.

Change of Software Houses

Our products are offered on all or some of the following software house systems:

• Acturis
• CDL
• Insurecom
• Open GI
• SSP/Sirius

Other broker specific software house systems are also available on some of our products. Please view Product Information for specific details on which software house systems can be used for each product.

Changing Software House Provider

If you wish to transfer your system to another Software House, you must ensure that any data from your former system, retained under the Provisions of Terms, is maintained in a manner that complies with regulatory requirement. This can either be via data transfer to your new System or maintenance via manual records.