MS Amlin starts trading risks digitally on Whitespace

Global re/insurer MS Amlin has started trading risks on  Whitespace Software Limited, a London-based technology company.

Whitespace Platform is a cloud-based solution that enables the process of placing insurance contracts in the Lloyd’s market to be conducted digitally. The tech company said it is “focused on the digital transformation of the insurance industry”.

It works by capturing the contract as data at the beginning, which then allows brokers and carriers to create, negotiate, edit, and place a risk digitally, which the firm said will enable MSAmlin “to further improve efficiency, accuracy and customer service”.

Alberto Verga, chief operating officer at MS Amlin AUL, said: “The introduction of Whitespace to Lloyd’s is an important step forward for the market and will improve the way we transact with our clients. Lloyd’s is on a journey, and the use of technology is vital in taking it to its destination. We fully support the digital transformation at Lloyd’s and are confident that the market will benefit from the improved efficiencies Whitespace will inevitably bring.”

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

Hong Kong airport protests highlight ground accumulation exposure

P&C ‘can catch up with’ personal lines gains in advanced analytics, finds report

SSL Endeavour unveils veteran senior hires as it finalises ‘significant’ M&A

Tokio Marine teams up with innovation platform that nurtures insurtechs

Specialist legacy M&A firm appoints CFO

Feature:  10 ways insurers are using insurtech to drive new business