Beazley's new digital unit to lead 'transformative' tech-led strategy
Specialist insurer Beazley has unveiled a new unit dedicated to underwriting and developing "transformative" digital insurance solutions. It will be headed up by the company's chief operating officer Ian Fantozzi.
Beazley Digital will bring together e-trading portals that have been created for distinct product areas into one central hub so that global partners can access products and services, and navigate between them, more easily.
The unit will also be responsible for developing new underwriting and risk management solutions, harnessing advanced data and technology to ensure brokers and clients can access well-executed, clear insurance cover through slick systems.
As head of the digital business unit, Fantozzi will remain as Beazley’s COO, a role he has held for more than nine years, until a successor is appointed. He will continue to report to Andrew Horton, Beazley's CEO.
Fantozzi said: “Beazley's digital business unit represents a natural progression for Beazley that will enable us to leverage digital technology to deliver enhanced value to brokers and clients alike – and to re-imagine the insurance relationship and value chain. We have invested in digital trading over several years, building a comprehensive suite of specialist products that provide low or no touch insurance solutions for small businesses, with a rapidly expanding global reach.
“By sharpening our focus and strengthening our digital strategy we’ll be quicker at building slick, end-to-end solutions that instil confidence in our business clients and brokers, freeing them from unnecessary risk to focus on what they do best and to thrive.”
Horton added: “Demand for e-traded underwriting solutions has grown significantly over the past 12 months, accelerating our own digital transformation programme. We have reached a pivotal point in this journey where we want to sharpen our focus by building a multi-disciplinary team that brings together IT and underwriting excellence, dedicated to expanding and honing our digital distribution and e-trading strategy.
"I am very pleased Ian Fantozzi has agreed to lead this team. As COO for the past nine years, Ian has demonstrated skilful leadership in managing cross-functional projects to drive change within Beazley and as part of broader London market transformation projects.
“Building a seamless and intuitive digital trading platform to deliver simple, well executed insurance policies is a must for us to maintain relevance and deliver outstanding value to our partners.”
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