Web Connectivity says it has been at the forefront of business change and industry reform before ‘insurtech’ entered the insurance industry’s lexicon.
As a wholly-owned subsidiary of Advisen, Web Connectivity helps speed up the adoption of new technology in all sectors of the insurance and reinsurance markets. Set up in 2003, it provides software that enables players in the industry to talk to each other in the same digital language and bring the sector closer to the sector’s ultimate goal of a fully integrated electronic marketplace.
Ultimately, Web Connectivity aims to bring about a world where companies are able to collaborate more easily in order to achieve scale and be more efficient in their day-to-day workings. By using structured data to improve communications, WCL streamlines and automates manual tasks such as placement of risks, accounting and settlement and claims.
It now has a considerable global reach, with presence in 12 countries spread over four continents, including the US. Web Connectivity’s ACORD-certified messaging software and is being used by more than 95 organisations, including international brokers, Lloyd’s managing agents, carriers and central bureau providers.
Web Connectivity provides a software solution to the majority of players engaged with the Ruschlikon Initiative, a joint industry project sponsored by insurance standards body ACORD. The project aims to connect the leading players in the insurance and reinsurance industry to advanced back-office processes such as technical accounting, claims and settlement using the ACORD Standards.
Headquarters: London, UK