Whitespace partners with GuideOne on 'first of its kind' digital MGU
Lloyd’s-approved digital digital e-trading risk platform Whitespace has partnered with GuideOne National on a "first of its kind" digitalised energy managing general underwriter (MGU).
Based in West Des Moines, Iowa, Career General Agency (CGA) will underwrite property insurance for global energy risks, both renewable and traditional, on behalf of multi-national re/insurance organisations.
The MGU, launching on November 1, will accept risks exclusively via the Whitespace Platform through a wholly digitised underwriting process.
Marcus Broome, chief platform officer of Whitespace, said: “We are thrilled GuideOne National has chosen the Whitespace Platform as the sole method of risk placement for its unique energy MGU. The independent, auditable digital process that we offer has already proven to be invaluable for the GuideOne National team and we are proud to continue to support them in this exciting undertaking.”
Mark Groenheide, senior vice president of specialty at GuideOne National, said: “The Whitespace Platform is the biggest efficiency gain in (re)insurance since email. We are harnessing this tool to enable underwriters to continue to do their jobs more effectively, while still retaining the fundamental human element that is imperative to the industry. Due to the extremely complex risks involved within energy underwriting, it’s crucial to have a clear and precise audit trail. This platform provides a level of transparency never before available in this space, and we know that will benefit underwriters, brokers and clients alike.”
