Extensive use of technology is part of everyday life for many of us. We inhabit an increasingly digital ecosystem, swarming with interlinked internet-enabled products and services.
At the very least, we expect to be able to interact with companies and pay for products and services online. But for too long, in the London market at least, there has been a disparity between the expectation of modernisation and the realities on the ground.
Adapt to thrive
Evolution demonstrates that the most adaptable thrive at the expense of those that resist change. The market needs more agile broking businesses that enable the efficient electronic distribution of products, channelling business from around the world towards this centre of underwriting excellence.
Time waits for no-one; both existing and emerging risks such as cyber demand modern, online solutions that can adapt as quickly as the realities of the risk evolve.
Recently, for instance, the UK Information Commissioner’s Office warned of a growing trend for diverting private school fee payments – with the risk spreading from isolated incidents to a staple scam in the cyber criminal’s handbook in a matter of months.
Clients require easily accessible, online insurance solutions that protect and support them with the most up-to-date coverage. Business should be processed and placed electronically for maximum efficiency, security and value.
We are developing solutions that meet what the international market expects and demands. The value we can add to the chain flows in both ways, and we take an holistic market-wide view with the ultimate aim of facilitating the efficient international distribution of capital to extremely high standards.
Access to London
The London market is unique and boasts highly skilled underwriting talent able to support the most complex specialty risks. However, inefficiency is its key challenge, especially the consistent, market-wide adoption of new technology. Ultimately, placing all business in the London market needs to be made simpler and more accessible.
From agile, adaptive claims handling to online processing and placement, we are pressing the self-disrupt button. We are working on providing a turnkey for automation to our clients and to to the market, and embracing technology and new partnerships is critical to this. How do you fit into the evolving global (re)insurance ecosystem?