Chaucer and Artificial Labs deliver next generation underwriting platform

International specialty re/insurer Chaucer has formed a new partnership with London-based insurtech Artificial Labs to deliver their next generation underwriting platform for high-volume specialty products.

Chaucer said the partnership will provide a smarter and more efficient underwriting service to brokers and clients by enabling Chaucer to provide a fully digitised quote, bind and issue process for policies that combines Chaucer’s underwriting expertise with Artificial’s advanced machine learning capabilities.

“We are committed to delivering the best service to brokers and clients, and using the artificial platform will enhance our underwriting responsiveness and speed to market for new specialty products,” said John Fowle, CEO at Chaucer. “Our partnership with Artificial will help us deliver our next generation underwriting platform with smarter data-driven risk selection and pricing, leaner and more scalable processes, allowing our underwriters to focus on spending more time with brokers and clients."

Damian Arnold, CEO at Artificial, said: ‘We are thrilled to be Chaucer’s next generation tech partner as we work together to drive insights, opportunities and efficiencies across the business. As a top quartile re/insurer, Chaucer demands the latest technology to deliver a better underwriting experience and, ultimately, a better service to their customers.

“Our mission at Artificial is to make insurance frictionless for both brokers and underwriters. By empowering Chaucer’s underwriters to quote, bind and issue policies digitally, we are adding real value to their business and allowing underwriters more time to focus on complex risks, where their judgement is more important, and activities that generate additional income and profits.”