Specialist insurer Apollo has joined forces with Artificial Labs, the algorithmic underwriting insurtech, to introduce an innovative smart follow collaboration. This collaboration aims to unleash fast, consistent, and dependable capacity for brokers operating within the London market.
Building upon a successful proof of concept conducted in early 2023 which harnessed Artificial Labs' technology for marine hull, this partnership will extend to various other lines of business. It also intends to provide brokers with a wider spectrum of options and prospects within the smart follow market.
The collaborative effort will bolster brokers in their diverse transaction methods, whether in-person at the Box, via web portals, or anywhere in between. Apollo Group CUO James Slaughter underlined the challenge of limited fast, reliable, and responsive capacity in the follow market.
“Our ongoing initiatives are geared toward establishing a framework for the future underwriter through technological advancements, partnerships, and innovation. Spearheaded by Farris Salah, our Head of Smart Follow, this collaboration represents one of the most prominent and exciting outcomes of our endeavours. We take immense pride in leading the way alongside Artificial on this transformative initiative,” he said.
“We're thrilled to be working with Apollo on a new vision for smart follow in the London market,” said David King, co-CEO of Artificial Labs. “We are aligned in the belief that algorithmic technology will be transformative to our industry, giving brokers far more choice than they have currently and unlocking new opportunities. Our platform offers a foundation for brokers and underwriters to write smart follow business, and we envisage this technology will bring about a step change in the industry.”
Earlier this year, Apollo was also integral for Moonrock Drone Insurance’s secured capacity backing a new drone insurance facility, with the latter’s coverage including small commercial operators and large fleets across sectors including construction, agriculture, and film and TV.
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