London-based Catlin Underwriting Agencies Limited, a unit of Catlin Group Limited, announced that it is studying how technological innovations could improve service to brokers and clients in the Lloyd’s market.
As part of the project Catlin recently hosted an interactive event with Lloyd’s to showcase IBM’s digital ‘TouchTable’ technology. Catlin described it as a “table containing a large, touch-sensitive display,” which is designed “to enable an underwriter and broker to simultaneously review an underwriting slip and any supporting documentation provided by the broker, such as surveys, reports, exposure information or claims details.”
The technology enables the underwriter and broker “to review a single digital version of the documentation, which could produce significant time and paper savings as well as an improved audit trail,” Catlin continued. “Using a single repository also allows instant updating that could automatically refresh back office systems.”
The Touch Table concept incorporates Lloyd’s unique face-to-face way of doing business, which is an essential part of the specialist market, while employing advanced technology to take the collaboration to the next level, by integrating and recording the details, as if they were on paper.
More than 90 Catlin underwriters and Aon brokers participated in the demonstration, held in Catlin’s London office. Brokers and underwriters were able to test the technology and were encouraged to make “user comments on how the Touch Table and other new forms of technology could enhance the placement of coverage at Lloyd’s and improve service levels.”
Nicolas Burkinshaw, Active Underwriter of the Catlin Syndicate at Lloyd’s (Syndicate 2003), explained: “Catlin is keen to investigate new ways to improve its processes to make placing business easier for brokers and ultimately to produce benefits for the end policyholder. The Touch Table is an example of how emerging technology could potentially help Catlin provide even better service to brokers and clients.”
Source: Catlin Underwriting Agencies Limited