Whitespace, along with Ardonagh Specialty, has announced a significant expansion in the use of the Whitespace Platform by Price Forbes.
This development marks a comprehensive adoption of the platform across all business lines, initiating placements from data-first templates on Whitespace. The integration of APIs is set to follow throughout 2024, which the firm notes will result in enhanced efficiency and a streamlined process for digital trading in the insurance sector.
Since its inception in 2019, Whitespace has played been pivotal as a digital placement tool for Price Forbes, facilitating the offering, negotiation, placement, and binding of insurance and reinsurance contracts in a digital format.
Laurence King, chief digital officer at Ardonagh Specialty, emphasised the strategic shift towards digital transformation through the adoption of Whitespace.
“By moving away from document-centric processes and adopting the Whitespace platform for all lines of business, we are demonstrating our commitment to providing best-in-class coverage for our clients, enhanced underwriting data for our markets and a significantly streamlined placement journey for our people. All our stakeholders will benefit from both the quality and quantity of data available,” King said.
Marcus Broome, chief platform officer at Whitespace, also acknowledged Ardonagh Specialty’s comprehensive migration to the platform as a testament to the effectiveness of the data-first model offered by Whitespace.
“They are already placing large volumes of contracts on the platform, with a substantial migration of teams from October 2023 onwards, and Whitespace is a key component to its end-to-end strategy,” Broome said. “We are delighted to support Ardonagh and continue our strong relationship with them.”
Elsewhere for the specialty broker, Ardonagh Specialty has also recently announced the appointment of Patrick Rastiello as the CEO of its reinsurance operations in North America.
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