Its official - STRIDE (Pty) Ltd is here
"STRIDE has started testing the switch with the transfer of data packages between binder holding intermediaries and insurers using the international ACORD standard for switching the data seamlessly and securely between insurers and binder holders," says van der Linde.
"The specifications were done by technical and business project teams from industry players over many months and investing thousands of hours of voluntary work to create the framework for a data switch that will enable the industry to unlock the technological opportunities in the future. The system programming and configuration is outsourced to "insurance switch" specialists, Astute, who have vast experience gained over the last ten years developing the same type of switch for the life assurance market," explains van der Linde.
The newly appointed General Manager of STRIDE Deon Olckers says there has been a need for an industry data switch like this for many years and with the recent binder holding regulations passed in January 2012, binder holders will have a year to fully adhere.
Deon who has gained vast management experience at both Transnet and ABSA, will be responsible for the executive management of STRIDE. "I am very excited to see the insurance industry embrace STRIDE at all levels, from being shareholders to getting their different technical and business teams involved right from the beginning," says Olckers. This will do for insurance what Bankserv has done with SASWITCH for the banking industry.
If you want to place your client on immediate cover and want to quote on the fly you need a binder and to get a binder you will have to have STRIDE to help switch your data. The STRIDE secure switch will seamlessly transfer data to and from the insurer and the consumer will be absolutely sure of immediate cover.
STRIDES believes that if you are in the insurance, personal and commercial lines business and have a binder to place cover immediately and/or assist your client with claims, its SWITCH is your answer. It says it is an industry initiative helping insurance well into the modern era of cloud computing and seamless business interaction.
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