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Market-leading carriers and brokers are now working with Artificial to trade algorithmically, offering written lines for submissions that are within appetite.
In a further endorsement of the capabilities of insurance platform artificialOS, the company has implemented multiple specialty products for a leading insurer in weeks, not months or years, including both the integration that is required between broker and underwriter and the codification of the underwriting appetite.
This unparalleled speed to market will surely be the standard for new business in the London market as algorithmic technology develops further.
Algorithmic trading (supporting Smart Follow underwriting) enables efficient, real time decision making with complex specialty risks. The artificialOS platform is cloud-native and API-first, allowing all parties to enjoy instantaneous responses, low-touch 24/7 underwriting, easy integrations, data enrichment and improved client experience.
The company believes out-of-the-box algorithmic underwriting technology should be available to all insurance companies, regardless of size or specialty. The evolving Smart Follow capacity of artificialOS and its rapid adoption by global insurance companies are proof points to a new vision of the future of the insurance market.
Johnny Bridges, co-founder and CPO of Artificial, said:
I’m incredibly excited about the use of our platform as a foundational piece for brokers and underwriters to write risk algorithmically. We are pushing boundaries with our insurance-specific technology, which allows carriers to configure their appetite in a singular file. This means underwriters can automate their decision making and focus on the submissions that matter most.
Our algorithmic trading tool is easy to use and extremely scalable. It is now proven to facilitate automated follow decisions out of the box, and I think this is the start of a step change in efficiency for Lloyd’s syndicates and other insurers globally.
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