INS/X is a Direct Loss Settlement solution for liability insurance providing Motor Insurers with data about insured accidents and their mutual settlement via a settlement centre.
INS/X provides data about insured accidents to motor insurers (via the Internet or via dedicated communication channels), its centralized storage and provision upon requests; scheduled preliminary and final clearing on the basis of netting of debts; interaction with settlement centre for the clearing results.
The system is based on CMA’s BCS/X product and PIE business process integration technology. INS/X raises effectiveness of bilateral clearing between insurers in terms of speed, cost and reliability; enhanced payment security and reduced risk of errors in insurers’ operations. The system utilizes state-of-the-art information technology and modern tools for risk management, control, administration and data exchange. It is a message-oriented system: the users interact by exchanging messages in XML format.