Brokers will be able to search a platform to find tech solutions to everyday business problems
Biba has announced it is launching a partnership with insurtech firm Insurercore to deliver two new initiatives to brokers.
Through its searchable networking platform it allows brokers to find markets to write their risks and source underwriters with the necessary capacity.
In addition, a new functionality will be demonstrated at the Biba conference tomorrow, allowing brokers to search for technological solutions to day-to-day issues they face in their businesses.
Biba’s cross-industry innovation group helped to develop the capability, which it said was making good on a promise in chief executive Steve White’s conference speech last year to deliver brokers a ‘dating agency-type’ solution to finding tech solutions to business problems. Biba has stated it will bridge the gap between broker and insurtech.
Insurercore will be demonstrating the platform to attendees at the conference on stand F88.
Andy Thornley, Biba head of corporate affairs and lead on insurtech, said: “Brokers told us that they found it difficult to know what type of tech solutions were available to help them and where to access them.
“Similarly, insurtech firms said they didn’t know who to approach in brokerages, to have the conversation about what insurtech could do for their bottom line.
“The need for a solution to connect these two communities was an obvious one and the fact that brokers can also use this platform to search for capacity is fantastic.
“We feel it will bring real value to Biba members and we’re delighted Insurercore will be at the Biba conference to showcase the platform to brokers.”
A member of the first cohort of the Lloyd’s Lab, Insurercore is a technology firm with a team formed of ex-insurance professionals.
Peter Clarke, founder and managing director of Insurercore, said: “Insurercore has been built to future-proof the insurance market without bringing any disruption to current practices.
“By opening the network up to other tech companies trying to use digital to drive efficiencies in the Insurance market, we act as a bridge between the old and new.
“We’re delighted to be partnering with Biba to deliver this benefit to their members and look forward to demonstrating it to them at the Biba conference.”
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