Software - Willis selects Gresham CTC for global insurance operarations

 Willis is a leading global risk advisor, insurance and reinsurance broker, with more than 18,000 employees in over 400 offices. The firm will deploy CTC as a strategic control platform for the reconciliation and control of insurance transactions in all markets. Willis will use CTC to replace existing controls and introduce new ones – helping it to improve operational control and deliver efficiencies while also meeting growing regulatory requirements. The solution was selected following an assessment of key factors such as rapid on-boarding time, auditability, scalability and stability.

  

 “As a dominant and forward-looking member of the global insurance community Willis was looking for a solution that will bring maximum control and efficiency to the processing of transactions across its business. The deployment of CTC will deliver significant benefits,” commented Chris Errington, CEO of Gresham. “The implementation at Willis represents a significant milestone for Gresham in the non-bank market, and demonstrates CTC’s wide applicability.”

  

 CTC will initially be used by the broker for the matching and reconciliation of non-standardised (with no industry standard format) intercompany transactions and also for reconciling standardised (where there is an industry standard) transactions on the London bureau market against internal systems. The solution will later be deployed for the matching and reconciliation of non-standardised, non-bureau transactions.