Advent launches technology business Ecliptic to 'accelerate modernisation'

Advent Insurance Management, the Lloyd’s and London Market service provider, has launched Ecliptic, a dedicated technology business.

The company said its aim is to “partner with and challenge Lloyd’s and London market businesses to help realise their ambitions through technological innovation”.

Ecliptic’s formation follows Advent being awarded approved service supplier status by LIMOSS, the Lloyd’s and London Market’s strategic sourcing and operating service, after building the LMA’s expert management platform, GEMINI, a market-wide solution it administers on behalf of the Lloyd’s market.

Drawing on this experience and the knowledge of its team, Ecliptic will offer a highly collaborative approach, part building solutions for potential clients to prove a concept will work in practice before they commit to buying the end product.

Ecliptic said it employs the latest technology platforms, analytics and artificial intelligence to “build and deliver compliant and innovative solutions extremely quickly”. In due course Ecliptic will also launch its Innovation Lab, a drop-in, collaborative space staffed by its experts plus PHD and MBA graduates in partnership with a leading university.

Paul Bermingham, managing director, Advent said: “Advent has long been committed to supporting the market’s efforts to modernise and we are well acquainted with the problems and frustrations experienced within it. Ecliptic takes that commitment a step further. We are impatient to understand our clients’ issues and deliver future-proof solutions for them. Having fully understood an issue, our deep experience allows us to then move at speed and develop a solution, not only to help our clients modernise but to thrive.”

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