In the recent weeks we have seen a large increase in the need for integration between systems. Now is the time for agile technology firms to collaborate and provide tangible streamlined processes in a market of shifting sands between Lloyd's and company activities, new initiatives and against a backdrop regulatory and political change.
Providing a secure integration route between NOVUS our solution for Brokers and MGAs and Whitespace, one of the approved placing platforms for electronic placing in the London Market, means clients need not expose their operations to additional risk, pushing contracts from one system to another via desktops or secondary filing systems. The ability to see which risks have been placed on which platforms is an obvious advantage to having increased clarity.
As the Lloyd’s insurance market moves to electronic trading during the current Coronavirus outbreak, managing agency AEGIS London has announced that all its underwriters are now available on the Whitespace insurance trading platform. The insurer said its underwriters were able to transact business in all of the classes it writes using the system. David Croom-Johnson, Managing Director of AEGIS London, said: “Our aim during this difficult period is to maintain our usual high levels of service. With all our underwriters available through Whitespace, brokers can be assured that they will get a speedy response to requests for quotations. “Our Opal online quote-and-bind platform is also open for business as usual.” Whitespace is a digital trading platform for the London insurance market. In 2018, it was recognised by Lloyd’s of London for the purposes of the Electronic Placing Mandate.