A new IT programme is leading the way for the UK life insurance market to move into the digital age.

Sixty per cent of claims made to Lloyd's of London will be processed electronically by the end of September, with plans for widespread electronic processing by 2008.

The new electronic claims files (ECF) system will make drastically speed up the claims process, Lloyd's has claimed.

Andy Brooks, head of Lloyd's market reform programme, said that the ECF initiative will prove crucial to increasing the efficiency of the London insurance market.

"It marks the beginning of the end of the huge piles of paper you see brokers carrying each day," he said.

Steven Haasz, director of business process and change management at Lloyd's, agreed that going electronic was a step in the right direction.

"This electronic filing cabinet will remove a significant amount of paper from the system and streamline the whole process," he commented.

"It is a significant step towards a truly modern market." ADNFCR-980-ID-18211422-ADNFCR

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