Lloyd’s and London Market service provider Advent Insurance Management has launched its technology business, Ecliptic.
Ecliptic was created to partner with and challenge Lloyd’s and London market businesses to help realise their ambitions through technological innovation.
Ecliptic’s formation follows Advent being awarded approved service supplier status by LIMOSS, after building the LMA’s expert management platform, GEMINI, a market-wide solution it administers on behalf of the Lloyd’s market.
Drawing on this experience and the industry knowledge of its team, Ecliptic will offer a more collaborative approach by part building solutions for potential clients to prove a concept will work in practice before they commit to buying the end product.
There have been plans for Ecliptic to launch its Innovation Lab in the near future, which will be a drop-in, collaborative space staffed by its team, along with PHD and MBA graduates in partnership with a leading university.
Paul Bermingham, managing director, Advent said: “Advent has long been committed to supporting the market’s efforts to modernise and we are well acquainted with the problems and frustrations experienced within it. Ecliptic takes that commitment a step further.
“We are impatient to understand our clients’ issues and deliver future-proof solutions for them. Having fully understood an issue, our deep experience allows us to then move at speed and develop a solution, not only to help our clients modernise but to thrive.”