Specialist insurer Beazley has unveiled a new digital business unit to transform how the company develops, underwrites and delivers digital insurance solutions for clients and brokers.
Existing digital initiatives and platforms created to further Beazley’s digital capabilities will now be led by a multi-disciplinary team, which will build on Beazley’s foundations in e-trading. This will include enhancing the capabilities and reach of the online platform myBeazley.
Beazley explained that broker expectations for frictionless trading is continuing to grow along with the suite of specialist products that can be efficiently traded digitally.
Beazley Digital will also bring together online trading portals that have been created for distinct product areas into one central hub so that global partners can access products and services, and navigate between them, more easily.
The unit will be responsible for developing new underwriting and risk management solutions and harnessing the opportunities presented by advances in data and technology.
As head of the digital business unit, Ian Fantozzi will remain as Beazley’s chief operating officer, a role he has held for more than nine years, until a successor is appointed. He will continue to report to Andrew Horton, Beazley CEO.
“Beazley’s digital business unit represents a natural progression for Beazley that will enable us to leverage digital technology to deliver enhanced value to brokers and clients alike – and to re-imagine the insurance relationship and value chain,” said Fantozzi. “We have invested in digital trading over several years, building a comprehensive suite of specialist products that provide low or no touch insurance solutions for small businesses, with a rapidly expanding global reach.”
“Demand for e-traded underwriting solutions has grown significantly over the past 12 months, accelerating our own digital transformation program,” commented Horton.
“We have reached a pivotal point in this journey where we want to sharpen our focus by building a multi-disciplinary team that brings together IT and underwriting excellence, dedicated to expanding and honing our digital distribution and e-trading strategy,” he continued.
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