Once perceived as intricate, time-consuming, and on occasion, frustrating, insurance claims processing has undergone a substantial transformation with the integration of new technological solutions. From artificial intelligence (AI) to big data and automation, the insurance industry is witnessing a rapid …
ACORD, the standards-setting body for the global insurance industry, announced the publication of the ACORD GRLC Contract, Risk, and Pre-Accounting (CRP) Implementation Toolkit, a new data messaging standard to facilitate the efficient exchange of insurance data. The CRP Standard was …
Electronic placing in the London market was a long time coming, with many obstacles to overcome – It took the pandemic to prove electronic placement is a benefit not a threat and, now it’s here to stay, we’re heading full …
Ariel Re, a global reinsurance business with offices in Bermuda, London and Hong Kong, has announced it has secured $270 million of capital from five new institutional and family office investors to support exciting growth opportunities in 2023. Ariel Re …
Lloyd’s announced it has received regulatory approval to set up a second protected cell company (PCC), which aims to enhance market accessibility for investors – a key deliverable of the Future at Lloyd’s project. Lloyd’s previously announced a number of …
Upward premium rate momentum is expected to continue support underlying performance for the London market, despite mounting challenges connected to climate modeling, claims inflation and the war in Ukraine, according to AM Best. “London market re/insurers have enjoyed several consecutive …
Lloyd’s announced a new operational structure for the delivery of its transformational Blueprint Two program, following the departure of Lloyd’s Chief Operations Officer (COO) Jennifer Rigby. Rigby leaves Lloyd’s on Jan. 21, and under the new structure, Burkhard Keese, currently …
Lloyd’s confirmed a contract has been signed with DXC Technology and the International Underwriting Association (IUA) in an agreement that will build the solutions to digitalize, streamline and fully automate processing for the Lloyd’s and London market. Lloyd’s described the …
Brit Ltd. announced it has piloted the first continuous binder at Lloyd’s for delegated authorities, which will go live in January 2022. Continuous contracts form a key part of the Future at Lloyd’s vision for delegated underwriting, said Brit. The …
Lloyd’s and insurers in the London company market have formed a joint venture with DXC Technology, aiming to transform digital capabilities and reduce processing costs for the London insurance markets. The joint venture intends to “deliver both world class technology …
