Howden uses e-placing platform Whitespace for North America property
Global broker Howden has implemented e-placing platform Whitespace to take advantage of the integration opportunities the platform provides for both the London and global re/insurance markets.
The first data integration spearheaded on Whitespace Platform is by Howden’s North America property team.
Since completing the digital integration and going live, the team has seen “notable gains” in speed, efficiency and accuracy. “There has been significant success in the binding of risks, with an impressive quote-to-written risk ratio on the platform of just under 85%, showing great support from insurers too,” Howden stated.
Sarah Walton, COO for Howden Global Specialty, saud: “Adaptability is really key to the evolving London market and as we ready ourselves for the advent of the MRC v3 and the CDR, the excellent collaboration and technical integration work between Howden and Whitespace has opened up lots of opportunities, whilst reducing the need to re-key data and laying the groundwork for our replacement broking system.”
Marcus Broome, Whitespace chief platform officer, commented: “It is encouraging and inspiring to see this increase in genuinely data driven transactions on the Whitespace Platform. Howden has achieved one of the best launches that we have had on the Platform with transaction volume, excellent quote to bind ratios and great feedback from their team.
“Howden has shown that there is a simple and user-friendly way to increase speed and efficiency in insurance transactions while avoiding interminable rekeying and the resultant errors. We’re delighted to be pushing the dial on digital trading for global (re)insurance.”
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