Channel Syndicate launches innovation division

The Channel Syndicate 2015 has launched at innovation division aimed at targeting opportunities arising from emerging risks, including cyber.

The SCOR-backed syndicate said that the division will enable it to explore new classes and opportunities outside its traditional portfolio.

It will operate in synergy with SCOR Group’s global approaches to these operational research and development fields.

Additionally, Tom Allen has been appointed as head of technology and cyber insurance. His portfolio will be part of the new innovation division.

Allen most recently served as head of technology liability and data protection indemnity at Aspen Syndicate 4711.

Within the division, Will Thorne is responsible for Channel’s wider innovation initiatives, including new product and distribution development. He joined the Channel Syndicate in 2012 following three years spent at Omega Insurance.

Both Allen and Thorne will report to Tom Corfield, active underwriter at Channel.

Corfield said: “Technological advances and the digitalisation of business will be game changers bringing new challenges to underwriters. 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 calibre individuals like Tom and Will on board to drive this initiative.”