13 Years: How DOCO Roots Flourished in EC3
This month, we celebrate DOCOsoft’s 13th official birthday as an Insurance Technology Claims Services provider. The roots of modern DOCOsoft go back to when we were established as a document management company working with AEGIS, Global Aerospace, MAP Syndicate and Omni Whittington.
Before that time, my 10 years of living and working as a developer in Japan was very much a formative experience for me. The Japanese way of doing things will, to some extent, always be part of what we are as a company. It is indeed the way of DOCOsoft.
The first big breakthrough for DOCOsoft, however, came with the claims workflow for ECF1 project with MAP Syndicate. ECF1 was introduced in 2006 and led the claims market into the electronic environment. That was followed some years later by the next major milestone in DOCOsoft history with the first ECF 2 Claims Management System with ARK Syndicate Management.
However, with the addition of ECF2 functionality, which included the Writeback service from September 2015, the use of ECF1 became too costly to enhance and maintain. The next major leap forward for DOCOsoft occurred when we were the first London market service provider to market with a Writeback Claims System (going live with Talbot Underwriting), Faraday Underwriting, and a grand total of eight London carriers.
18 London market carriers today
Today, that number has swelled to 18 London market carriers – 40% of the market’s total users – and DOCOsoft now has a presence in London, Dublin, Wroclaw, Cardiff, Tokyo & recently Mumbai, employing well over 50 people. In fact, I am reliably informed by our HR department (my, that sounds very grown up!) that we have hired 27 people in the last 6 months alone, including a Head of Marketing, and have plans for 20% more people by the end of the year. That is quite remarkable as far as I am concerned. The CMS manages 15 billion pounds of underwriting stamp capacity while 50% of all London Market Write Back claims messages are routed through our platform. It is incredible to think how far we have come in the space of a few short years.
DOCOsoft’s best of breed claims management technology has been recognised with multiple awards from Insurance Day for Technology Innovation of the Year, as well as awards for claims technology excellence from the Irish Times and ACORD. We have developed a close working relationship and partnership with insurance market bodies such as the LMA and IUA, often being asked to contribute our expertise to industry initiatives or when producing thought leadership insights for their members.
In 2021 that story of growth and successful innovation has continued and not even the pandemic lockdown has been able to slow our progress. Within a couple of months of going into lockdown DOCOsoft was able to help multiple clients go live by completing a number of claims management system implementations completely in the virtual world. The role of Virtual Floor Walker after a CMS go live might become a new job title for someone in DOCOsoft at this rate!
I am very proud of what we’ve achieved as a team as we celebrate this 13th DOCOsoft birthday. Luck has played its part, of course, but ultimately achieving success is about good people, hard work, and listening to what the customer wants and developing that important partnership and trust. Long may the way of DOCOsoft continue!