Managed Service 

 As the commercial insurance world moves away from paper based trading to the use of document repositories and data exchange, there is a requirement for market participants to develop new delivery mechanisms to manage these profound changes. It is generally accepted that these changes will provide efficiency and cost benefits in the long term. However, the cost and upheaval of initial implementation is seen by many organisations as prohibitive in the short term.

The purpose of the Trace Managed Messaging Service (TMMS) is to offer a quality, cost effective route for commercial insurance organisations to pursue their messaging objectives. Based on ACORD standards, TMMS provides the core software enabling DRI and RLC messages to be exchanged and an architecture which allows the service to be integrated easily into a client's infrastructure.

 TMMS supports all back office messaging initiatives, including:

• Lloyd's Exchange
• Bureau Accounting and Settlement (A&S)
• Non-Bureau Accounting and Settlement (EBOT)
• Electronic Claims File (ECF)
• Audited central distribution for emailing Debit Notes, Closings and Statements
• Citibank File Service for direct payments