Insurtech firm Artificial Labs is collaborating with Convex to digitise and distribute the speciality re/insurer’s data-driven marine liability product.
The partnership sees US-based marine liability brokers provided with a rate/quote/bind/issue tool designed to improve client experience and give access to new, specific classes of business.
The product is reported to give brokers the autonomy to create and edit submissions, make material and non-material endorsements to policies and allows for quick and easy broker onboarding.
Meanwhile, automated referrals are sent to underwriters with notifications via in-app messaging and/or external notifications.
The unique collaboration has been described as bringing together Convex’s market expertise with Artificial’s data capture and digitisation capabilities to create a flexible, user-friendly platform for underwriters and brokers.
“We are really excited to work with Convex on their new Marine Liability tool. Their forward-thinking approach to technology and innovation is unique in the market, and we’re thrilled that they have chosen Artificial to be their newest technology partner,” said David King, Founder of Artificial.
“We are committed to providing insurers and their clients with superior technology, reducing friction across the quote, bind and issue lifecycle. By empowering Convex’s Marine Liability underwriters to serve their customers digitally, we are adding real value to their business and giving them time to focus on high-value tasks.”
Peter Gower, Convex Head of Energy and Marine Liabilities added, “Convex is committed to enhancing its technological and data capability, particularly when it enables us to further enhance our service offering and we are pleased to be working with Artificial.”