Ardonagh Specialty moves all lines of business to Verisk’s Whitespace
Ardonagh Specialty’s independent specialty broker Price Forbes has widened its adoption of the Whitespace Platform, the digital e-trading platform of Verisk. All lines of business will now start their placements from data-first templates on Whitespace, with API integration being delivered throughout 2024.
Line that will be moving to Whitespace include marine, property, casualty, energy, renewables, aviation, power, healthcare, construction, fine art, jewellery and specie, terrorism, credit and political risk, professional lines, bloodstock, life science, mining, real estate, professional lines.
Whitespace, launched in 2019, allows companies to offer, negotiate, place and bind re/insurance contracts across all lines of business in a fully digital form, resulting in efficiencies.
Laurence King, chief digital officer at Ardonagh Specialty, said: “We believe this commitment to a data-first approach with Whitespace allows us to deliver true digital transformation. By moving away from document-centric processes and adopting the Whitespace platform for all lines of business, we are demonstrating our commitment to providing best in class coverage for our clients, enhanced underwriting data for our markets and a significantly streamlined placement journey for our people. All our stakeholders will benefit from both the quality and quantity of data available. In 2019 Price Forbes placed the first risk on the Whitespace platform, and we now look forward to further developing our partnership with Whitespace, and exploring all aspects of digital trading with them.”
Marcus Broome, chief platform officer at Whitespace, said: “Ardonagh Specialty’s decision to migrate all lines of business onto the platform is a testament to the power of our data-first model and a significant step for the market. They are already placing large volumes of contracts on the platform, with a substantial migration of teams from October 2023 onwards, and Whitespace is a key component to its end-to-end strategy. We are delighted to support Ardonagh and continue our strong relationship with them.”
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