’We are delighted to partner with BMS,’ says co-chief executive

Specialist (re)insurance broker BMS has partnered with Artificial Labs to implement the insurtech’s new digital contract builder.

BMS explained that the collaboration aimed to streamline the creation and processing of new MRCv3 insurance contracts.

Artificial Lab’s contract builder uses a data first approach to generating an MRCv3, capturing core data record (CDR) standard data and rendering a digital MRCv3 contract in real time with “word like” formatting and drafting capabilities.

According to BMS, contract builder will “seamlessly integrate” into its existing Broker Workbench.

The broker added that, in turn, this will merge risk models and legal documents with ”precise, compliant, and auto-populated data, starting the slip assembly process”.

BMS explained that the integration of internal and external platforms will reduce the need for manual data entry and minimise administrative tasks, “enabling the business to focus on client activities and enhancing their analytical reporting capabilities”.

David King, co-founder and co-chief executive at Artificial Labs, said, “We are delighted to partner with BMS and recognise their invaluable contribution to its development.”


The digital contract-building platform is reportedly set to be initially rolled out to several business lines within BMS in February 2024, with additional lines onboarding the platform throughout the remainder of the year.

“The MRCv3 compliant software not only enhances support for brokers and clients but also aligns with BMS’s digital strategy,” BMS added.

Adam Stafford, chief operating officer at BMS Group, added: “The transition has been seamless and I look forward to its implementation across our remaining teams as we continue to enhance our digital ecosystem with the Artificial Labs team.”

King said: “The partnership is emblematic of the value of our products and the strides we are making to build advanced technological solutions for the insurance market.”