Thomas Miller's Value for Money project took a major step forward
today when it finalized a contract with US firm DataCert, Inc. for a
cost management system for professional services procurement. The
agreement, believed to be a first for the insurance industry outside
of the United States, requires DataCert to provide electronic
invoicing services to law firms used worldwide by Thomas Miller's
managed mutual insurance companies ("Clubs").
Thomas Miller will utilise DataCert's web-based technology,
Advanced Invoice Management System (AIMSSM), and its advanced rules
engine, Guide, to manage and control all the procurement and invoicing
of professional services for its worldwide claims portfolio.
DataCert's software will be integrated with Thomas Miller's
award-winning claims management software OASIS, substantially
extending its capabilities.
Started five years ago, the Value for Money project aims to bring
benefits to Thomas Miller, the Clubs managed by it, their Members and
the professional suppliers providing these services.
Mark Holford, Thomas Miller's newly appointed Director of Service,
explained, "Last year clubs managed by Thomas Miller made over 100,000
claims and fee payment transactions, of which 40,000 related to legal,
technical and other professional services provided by more than 4,000
suppliers. This system will enable us to introduce new management
techniques and thereby to control our spending, both on claims and
fees, in a radically different way."
He continued, "Thomas Miller is the first European company in the
insurance industry to use this software to manage claims. It will
considerably enhance our strategic approach to professional supplier
management as we analyse and benchmark the performance of the lawyers,
correspondents and surveyors who provide services to the Clubs we
manage. At the tactical level, Thomas Miller claims executives will
have a decision-support tool to enable them to make judgements more
effectively and ensure that work commissioned has been properly
carried out for the appropriate fee. In general, this project will be
an agent for change both internally and externally."
Already many invoices from some professional suppliers are
received electronically. DataCert's software will extend e-billing to
all professional service providers - notably lawyers - and improve the
analysis of all fees.
"A key factor in Thomas Miller's choice was our physical presence
in Europe," commented Jeff Hodge, senior director, Europe, Middle East
and Africa (EMEA), DataCert. "In addition, we were attracted by Thomas
Miller's long-term vision for how AIMS will evolve within their
business environment and how they want to integrate it with their
existing OASIS claims management system."
About Thomas Miller
Thomas Miller is the world's largest provider of insurance
services to the transport industry. In shipping, its managed
businesses have a unique portfolio of insurance contracts with the
owners of more than 50 per cent of the world's tonnage, as well as
insuring many of the world's leading port operators, freight
forwarders, ship agents and ship brokers. The Thomas Miller Group
manages insurance companies and has the underwriting, claims handling,
loss prevention, financial, legal, risk management and investment
skills needed to provide world-leading insurance services. For more
information, visit www.thomasmiller.com.
About Guide
Guide is DataCert's powerful business rules engine that automates
the enforcement of corporate law department billing guidelines for
legal electronic invoicing. With Guide, the tedious and time-consuming
task of manually validating thousands of line items on legal invoices
is eliminated. Guide is used in conjunction with AIMS.
About AIMS
Advanced Invoice Management System (AIMS) is DataCert's web-based
application that facilitates the approval and payment of electronic
invoices between law firms and vendors and corporate law departments.
Its primary purpose is to help managers control and manage internal
work as well as proactively analyze corporate legal spend. Using AIMS,
legal invoices are validated against established matter or project
guidelines and routed, adjusted and approved for payment. Upon
completion, invoices are posted in an internal or accounts payable
system.
About DataCert
DataCert, Inc. is the largest and fastest-growing supplier of
electronic invoicing and corporate legal spend management solutions.
DataCert's products and services provide a substantial return on
investment to corporations looking to better manage internal work and
reduce outside legal spend. Headquartered in Houston, Texas, with a
European office in London, DataCert has more than 7,200 customers in
110 countries including 43 of the Fortune(R) Global 500. DataCert
processes in excess of USD 9 billion of electronic invoicing data on
an annualized basis. Visit DataCert at www.datacerteurope.com for more
information.
