GuideOne National, a specialty insurance subsidiary of GuideOne Mutual Insurance Company, has taken steps to strengthen its London market connections by joining the Whitespace Platform.
The Whitespace Platform provides brokers and underwriters with the ability to digitally offer, negotiate, place, and bind insurance and reinsurance contracts with each other.
By joining the platform, GuideOne National becomes the first U.S. carrier to write business on the platform, and expects to bolster its connections with the London marketplace and enjoy the benefits of digital trading.
Mark Groenheide, Senior Vice President, Specialty at GuideOne National, said: “Working with Whitespace was an easy decision for us to make. This platform keeps us connected to the historic London market and the vitally important relationships we have there. It also brings consistency, a full audit trail, and adds clarity and benefit to the entire insurance trading process.”
Whitespace Software Limited is a London headquartered technology firm, with a focus on the digital transformation of the insurance industry. As the Lloyd’s, London market and wider re/insurance industry went remote as a result of the COVID-19 pandemic and subsequent government orders, digitisation across the sector has increased, with a heightened focus on things like electronic placement, trading and claims management.
Whitespace Chief Platform Officer, Marcus Broome, commented: “With more than 90 brokers and carriers in London now doing business through our platform, Whitespace is well placed to offer more efficient access to the world’s leading wholesale insurance and reinsurance market. We are delighted that GuideOne National is our first overseas carrier and are looking forward to working closely with Mark and his team to help them grow their use of Whitespace across the business.”
Groenheide added: “Using the Whitespace Platform, we can deliver value to our customers at any time and from anywhere. It supports complex risks where such interaction adds value, as well as more straightforward risks that can be agreed upon without a meeting. At the end of the day, it makes doing business with GuideOne National easier, while also improving the quality of service to our customers.”