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.”
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