Lloyd’s coverholder launches commercial automated insurance platform in Singapore

Delta Insurance Singapore, a cyber, technology and financial lines Lloyd’s coverholder in Singapore, has launched an online financial lines insurance platform.

Using proprietary technology, DeltaDigital offers brokers/advisors and policy buyers instant quotes for commercial (corporate) insurance products such as cyber, professional liability, technology professional liability and management liability, according to the press release.

DeltaDigital enables insurance brokers/advisors to generate a quote instantly to present to buyers, such as small and medium enterprises (SMEs), who no longer have to go through the slow and complicated process of completing a physical proposal form. While this process traditionally can take up to several weeks, DeltaDigital is able to generate a quote within a matter of minutes, a first for the Singapore insurance market, according to the company.

Eugene Cheong, managing director of Delta Insurance Singapore, said: “We want to streamline the process from end-to-end and cut through the long manual process of getting a quote; this will free up time for our users to focus on other important aspects of their business.”

Jenny Lim, executive director and head of financial lines at Howden Insurance Brokers Singapore, added: “DeltaDigital.sg accelerates the quote procuring process, which conventionally can take weeks. It also removes the cumbersome paperwork required to put in place a policy, enabling us to provide fast and efficient solutions to our clients.”

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