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On-demand SaaS: 'Software as a Service' hosted by the vendor, paid for by the user per usage, as opposed to the traditional model of buying/licensing a copy per user

"The Insurers' Market Repository (IMR) is a key piece of infrastructure for the London Insurance Market. It supports the electronic processing of premiums, policies and claims through the Accounting and Settlement (A&S) and Electronic Claim File (ECF) solutions. The IMR enables its users to create, maintain and submit premium, policy and claims documentation direct to Xchanging and share documents with their trading partners, eliminating paper and increasing processing speeds."
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