The Association of British Insurers (ABI) has welcomed its newest – and biggest – associate member.
It’s none other than technology goliath IBM, which “currently works with 99 of the top 100 insurance companies around the world,” according to IBM Global Business Services (UK and Ireland) vice president for insurance Angela Magee.
Citing the rapidly changing landscape being faced by the UK’s insurance industry, Magee pointed to the increasingly important role of technology in unlocking the business potential presented by the changes.
“As digital transformation continues to take hold, insurers must grab the opportunity to introduce the very latest technologies into their business to continue improving how they understand and measure risk,” wrote the IBM executive in a blog post explaining why the tech firm came onboard.
Meanwhile, commenting on IBM’s arrival, ABI director general Huw Evans stated: “Welcoming such a notable household name reflects the quality and international reach of the ABI’s work.
“With their global expertise in technology, the ABI’s associate membership provides IBM with further opportunities to work alongside our members and our key stakeholders, and I look forward to collaborating with them.”
The trade body’s associate membership category was developed to meet interest from non-insurance and white label companies who, as associate members, will benefit from a wide range of ABI services.
“Working closely with leading industry trade associations is important for IBM,” added Magee. “We are proud to have joined the Association of British Insurers, becoming the largest company to join as an associate member.”
