Channel Syndicate 2015 at Lloyd’s is launching an Innovation Division, which will further structure Channel’s activities and organization to explore new classes and opportunities outside its traditional portfolio.
The Innovation Division will support Channel’s commitment to new technologies and its ambition to target opportunities arising from emerging risks, including cyber, the company said in a statement.
The division will operate closely with SCOR Group’s global approaches to these operational R&D fields, Channel said. (Channel is supported by SCOR, which provides 100 percent of its capital).
Channel is also announcing the arrival of Tom Allen, who has joined as head of Technology and Cyber Insurance. Allen’s portfolio will be part of the new Innovation Division.
Allen is a lawyer by training and was admitted to the New York State Bar in 1992. In 1996 he joined AIG as an underwriter in its Professional Liability Division before moving to Marsh, where he spent eight years in California and in London where he was senior vice president for the FINPRO practice.
He was most recently head of Technology Liability & Data Protection Indemnity at Aspen Syndicate 4711 and is a recognized leader in the Lloyd’s market for tech E&O and cyber, the statement from Channel continued.
Also within this division, Will Thorne is responsible for Channel’s wider innovation initiatives, including new product and distribution development. Will joined the Channel Syndicate in 2012 following three years spent at Omega Insurance and has already been instrumental in getting Channel actively involved in a range of new business developments.
Both Allen and Thorne will report to Tom Corfield, Channel’s active underwriter.
“Technological advances and the digitalization of business will be game changers bringing new challenges to underwriters,” said Corfield. “The launch of this division and Tom’s appointment will take Channel to the cutting edge of the innovation needed to adapt the offer to changing demands. I am very pleased to have high caliber individuals like Tom and Will on board to drive this initiative.”
About Channel Syndicate
Established in 2011, the Channel Syndicate is principally a direct, specialty insurance business that underwrites property, marine, accident & health, financial lines and specialty classes.
Source: Channel Syndicate
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