Eqos to provide Supplier Management system to Lloyds TSB Insurance
17th October 2005
Claims on Lloyds TSB Insurance's personal and commercial household policies will now be processed by Royal & SunAlliance's new Internet-based system provided by supplier management experts Eqos.
Previously, Lloyds TSB Insurance had used traditional methods to manage claims, but following the success of the newly-adopted Eqos technology at Royal & SunAlliance, it has transferred the supplier management part of its claims handling to the Eqos system. This marks the first phase in an industry-leading, five year, supply chain collaboration initiative between the two insurance companies.
The Eqos system delivers improved information accuracy, a near real-time view of claim status and faster claim resolution. These enhancements are achieved by using a central repository for both supplier and claim information, with an automated procedure for the interaction of all parties involved, from instruction to final payment of suppliers.
"This service will provide a significantly enhanced experience for our customers," comments Neil Edwards, Head of Customer and Supplier Relations, Lloyds TSB Insurance. "It will also generate management information for use in monitoring supplier performance and cost control and allow us to compare initial estimated costs for a claim with the actual final charges."
Currently over 400 Lloyds TSB Insurance claims handlers are using the Eqos system.
Notes to Editors:
Eqos Ltd
Eqos delivers flexible, proven solutions for Global Sourcing and Supplier Management over the Internet. Founded in 1997, Eqos is headquartered in the UK. Eqos technology is recommended worldwide as a Microsoft preferred platform for collaborative working and its solutions are used by major retailers such as Tesco, Sainsbury's, Debenhams, Focus DIY, Virgin, Wickes and US electronics giant Best Buy.
More information can be found at www.eqos.com.
For further information, please contact:
Anne Lomax or Linda Laderman @ Linda Laderman PR
Tel: +44 (0)20 7436 6676
Fax: +44 (0)20 7580 0555
E-mail: annel@ladermanpr.co.uk
