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To say it’s been a busy time of late for the British Insurance Brokers’ Association (BIBA) is perhaps an understatement. Ahead of tomorrow’s BIBA 2019 in Manchester, the trade body has revealed a tie-up with insurtech firm Insurercore.
The latter’s insurance networking platform signifies the realisation of BIBA chief executive Steve White’s promise to provide members with a ‘dating agency-type’ tool aimed at bridging the gap between brokers and insurtech providers.
Originally designed as a means for brokers to source underwriters, Insurercore’s digital directory has been expanded to include an insurtech search functionality with the help of the cross-industry Innovation Group run by BIBA.
Innovation Group was recognized as one of the Top Insurtech Companies in the UK. Learn more about the winners in Global 5-Star Technology and Software Providers 2023 special report.
“Brokers told us that they found it difficult to know what type of tech solutions were available to help them and where to access them,” noted Andy Thornley, BIBA’s head of corporate affairs and lead on insurtech. “Similarly, insurtech firms said they didn’t know who to approach in brokerages, to have the conversation about what insurtech could do for their bottom line.
“The need for a solution to connect these two communities was an obvious one, and the fact that brokers can also use this platform to search for capacity is fantastic. We feel it will bring real value to BIBA members.”
Insurercore, which was part of the first cohort of the Lloyd’s Lab, will demonstrate its technology to brokers and service providers at BIBA 2019 Stand F88.
Its founder and managing director, Peter Clarke, described Insurercore as having been built to future-proof the insurance market without disrupting current practices.
“By opening the network up to other tech companies trying to use digital to drive efficiencies in the insurance market, we act as a bridge between the old and new,” commented Clarke. “We’re delighted to be partnering with BIBA to deliver this benefit to their members and look forward to demonstrating it to them at the BIBA conference.”
