New Clinical Trials Insurance Portal

Streamlines Insurance Purchasing and Management

User benefits include instant quotations and documentation, exclusive rates and the ability to make alterations and immediately obtain revised documentation

The Life Science team at Jardine Lloyd Thompson Limited (JLT) has worked in partnership with HDI-Gerling to develop a web based application that is set to revolutionalise the purchasing and management of clinical trials insurance by providing a faster, more efficient service that puts the insurance buyer in control. Instant quotations and documentation, the ability to make instant changes and obtain revised certificates, and improved management information through 24/7 access to past and present trials are just a few of the benefits.

James Bird, Partner in JLT's Life Science and Chemical Industry Practice that led the development of the new service explains, "Clinical trials are a critical part of the process in developing new products in the competitive pharmaceuticals industry. As part of this process it is often necessary to undertake trials in a number of different countries. This creates an additional insurance burden as each country requires evidence of insurance, often in the local language and that satisfies local regulations. If changes are then required, for example to extend the period of the trial, delays in obtaining revised certification can delay the trials.

"The current methods for purchasing clinical trials insurance are time consuming, inefficient and a minefield to manage effectively. That is why we set about developing an intuitive system to make it easier for clients to buy and manage their clinical trials insurance and ensure they meet regulatory requirements".

The Clinical Trials Insurance Portal will initially offer cover in selective European countries but is quickly being extended to include more countries and other regions.

Richard Taylor, HDI-Gerling's UK Managing Director, says, "HDI and JLT's experience in this market place combined with our understanding of insurance requirements, process and claims management and the work we have undertaken to understand the needs of clients and the international issues they face have resulted in a product that creates real efficiencies, better management information and enhances the user's experience and ability to manage this process."

James Bird concludes, "We spent a lot of time working on the rating engine to ensure that almost all enquiries will receive instant quotations. Even where an enquiry needs to be referred the client will receive a quick response and then be able to benefit from the system in terms of documentation, management information and if they want to make changes to the cover".

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Enquiries:
Jardine Lloyd Thompson
Isabella Young
Tel: 020 7528 4444
EMAIL

Editor's Notes:

About Jardine Lloyd Thompson Limited (JLT)
JLT is a specialist London market insurance broker and risk consultant providing market leading industry knowledge and expertise in specialist fields to some of the world's largest companies.

Our Life Science & Chemical Industry Practice has a reputation for developing new and often sophisticated solutions for some of the most important risk challenges faced by companies involved in developing, manufacturing and selling pharmaceutical, medical device, biotech, agrochemical and specialty chemical products.  www.jltgroup.com/pharmaceutical-insurance

JLT is part of the Jardine Lloyd Thompson group of companies and is a leading risk management adviser, insurance and reinsurance broker and a major provider of employee benefits administration services and related consultancy advice.

Jardine Lloyd Thompson Group is quoted on the London Stock Exchange and is the largest European-headquartered company providing these services and is one of the largest firms of its type in the world. The Jardine Lloyd Thompson group employs 5,000 people worldwide and through JLT NetworkTM provides our insurance broking services in more than 120 countries. www.jltgroup.com

About HDI-Gerling
HDI-Gerling is the only German insurance group with a company that caters exclusively to the insurance needs of industry. HDI-Gerling Industrie Versicherung AG's core competencies in risk assessment and risk management are based on decades of experience and a pool of highly qualified experts able to make a professional judgment and appraisal of insurance requirements and loss prevention measures.

HDI-Gerling Industrie Versicherung AG enjoys a security rating of A+ (Stable) and A (Stable) with Standard & Poor's and A.M. Best respectively. It employs 1400 people and provides services to its international clients via its worldwide network that includes 28 of its own subsidiaries or branches.

HDI-Gerling Industrie Versicherung AG is a wholly owned subsidiary of HDI-Gerling Sach Serviceholding AG. HDI-Gerling trades in the UK as HDI-Gerling Industrial Insurance Company - UK Branch.