Insurity, a provider of cloud-based software for insurance carriers, brokers, and MGAs, has announced the launching of its Sure Underwriting Workbench in the London market.
The software’s low code, configurable rules engine will enable London market carriers, MGAs, syndicates, and brokers to focus more on risk assessment and less on routine tasks to increase underwriting efficiency.
Insurance organisations in the London market face steep challenges, especially regarding quickly and efficiently assessing risk and navigating an increasingly complex regulatory environment.
Additionally, carriers and syndicates must adopt the newly pledged Blueprint Two initiative, the digital services framework based on ACORD standards, that will make the placement, accounting, and claims settlement more efficient and establish a standard core data record (CDR).
As insurance organisations in the London market are undergoing a massive digitization initiative, carriers and syndicates, as well as others, also need underwriting solutions that can easily interact in the future digital ecosystem, Sylvester Mathis, Chief Insurance Officer, commented.
“Sure Underwriting Workbench integrates with any system, and the Blueprint Two framework will enable Sure Underwriting to accelerate and simplify insurance organisations’ digital transformation. Underwriting efficiencies realised through reporting dashboards, collaborative workflows, and easy-to-use APIs drive the required return on investment,” Mathis added.