Financial-economic reasons forced us to decide to close both exchange floors, in Amsterdam and Rotterdam, in 2004. And so, after more than 400 years, the physical insurance exchanges in the Netherlands ceased to exist. Step by step a digital, virtual system was developed, the electronic insurance exchange system (e-ABS). After e-ABS first became operational for Claims, the Placement (2010) and Clearing (2011) modules were implemented as well.
What is e-ABS?
e-ABS is an advanced ICT system that facilitates the digital - and thus fast and efficient - data exchange between brokers, insurers and loss adjusters on quotes and policies, claims, and financial processing. The system allows two modes of operation: via an Internet browser and by an interface with internal systems via web services. By using these web services single data input will suffice, which will realise optimum efficiency.
e-ABS consists of three modules which are linked, thus allowing single data entry. By using one system to collaborate and exchange data, you’ll be able to work (more) efficiently, realising considerable cost savings and improved efficiency. Via the links below members can find out more about the three modules.
- Placement (policies);
- Clearing (financial processing);
Connection to e-ABS
If you want to know more about e-ABS or are interested in the different membership options , please contact the VNAB.
In the summer of 2013 the possibilities for future development of e-ABS were explored. This led to the conclusion that the current e-ABS system is a solid base for the development of e-ABS Next, which started in 2014.