On Friday, 21st June 2019, The Medical Protection Society (MPS) announced that it is launching a Lloyd’s special purpose arrangement to underwrite risks for corporate healthcare. Morning Data, an award-winning supplier of world-class software and service solutions for the global insurance industry and MPS today announced that they have entered into a partnership which will see Morning Data provide their NOVUS integrated platform, to support MPS’s operations for their Coverholder and Claims TPA Operations.
The platform will offer a single end-to-end integrated solution to processing all of MPS’s policy, claims and transactional data, from bordereaux in to validated and structured data, supporting their aim to add real value, together with efficient processing, through the deep levels of granularity of data.
MPS is a mutual organisation established in 1892. It protects the careers, reputations and financial security of over 300,000 doctors, dentists, healthcare professionals and healthcare organisations around the world.
The new Coverholder operation will enhance MPS’s ability to provide a new insurance product that covers private sector healthcare organisations against medical malpractice claims.
Morning Data has seen record increases in terms of revenue and clients in its 2017/2018 financial year, and the recent appointments and steady stream of new clients selecting Morning Data’s products reflect the business’ growth and provide a strong platform for its continued development.
Howard Kew, Executive Director – Insurance at MPS said: “As part of our programme, we recognised the need to work with an experienced and trusted software partner, well known to Lloyd’s and whose solutions are used by a number of established market participants. We look forward to working alongside Morning Data in developing a platform which serves our members’ needs.” Kirstin Duffield, Managing Director, Morning Data said, “We have always remained totally committed to supporting Coverholders, MGAs and Brokers in the London Market as well as our Insurer clients both domestically and overseas. Our clients present various combinations of Facultative, Treaty and Delegated Authority business for almost every class imaginable and we relish the challenge to handle it all. We are delighted that MPS has selected our NOVUS platform and look forward to working with the MPS team.”