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PRESS
RELEASE
Whitespace
Software Limited
Whitespace
Software Enables Motor Insurers to Update The MIIC's Motor Insurance Database (MID) Automatically.
The 4th
EU Motor Insurers Directive stipulates that all motor insurers supply the MIIC
(Motor Insurers' Information Centre) with policyholders' details for the Motor
Insurance Database (MID). Whitespace
Software have implemented their MID submission module, as an integrated part of
their SCHEMATIC system, which automates this process for motor insurers and
brokers.
Motor
insurance companies are permitted to ask their brokers with delegated
authority, to make the MID submissions on the insurer's behalf. Many brokers do not have systems to handle
MID data exports and are using error-prone manual processes or are not
complying with the EU Directive.
For the
latter, the warning is:
"Authorities
prepare to chase those who continue to flout the law by failing to supply
data."
Motor Insurers' Information Centre (MIIC).
The
penalty for failure to comply, aside from monetary fines, is the potential loss
of Motor Insurers' Bureau (MIB) membership, which will result in the insurer
not being able to sell motor insurance in the
"The
MID submission system is an integrated part of our SCHEMATIC product range but
if you do not use SCHEMATIC, the Whitespace MID submission module can be used
on a stand-alone basis to automate the MID data transfer process. This will increase efficiency by reducing
administration and reducing human error."
ENDS
Notes
To Editor:
The
Motor Insurers' Information Centre was established by the
At
conception the MID was intended to be a tool in the reduction of uninsured
driving in the UK (a problem which cost the industry £215m in that year alone
and now costs in excess of £400m) The UK has one of the worst records in
Western Europe with an estimated one in twenty cars on the road being driven
without proper insurance cover. Phase 1
of the MID project involved building the database in conjunction with the
Global Information Solutions Provider Experian, as
well as loading the insurance details of the 22 million individually insured
The
MIB was established in 1946 as a private company limited by guarantee for the
purpose of entering into Agreements with the Government to compensate the
victims of negligent uninsured and untraced motorists. Every
insurer underwriting compulsory motor insurance is obliged, by virtue of
the Road Traffic Act 1988, to be a member of MIB and to contribute to its
funding.
Established
in 1985, Whitespace develops software and services tailored to meet the
specific business needs of the insurance industry. From back-office
administration to online sales, their solutions manage quoting, proposals,
policies, claims and premium collection - including rate engine, rules capture,
and reporting.
For further
information, please contact
Whitespace on 020 7240 0208