Price Forbes announced the launch of a digital general aviation facility that will quote and bind risks with a leading Lloyd’s syndicate within minutes.
The development within Price Forbes’ proprietary EDGE platform will improve speed of service and placement for clients by delivering quotes in real time. The facility is available for global risks, said a Price Forbes representative.
“General aviation has been a difficult sub class of aviation to facilitate in the London marketplace over recent years due to its high volume, lower premium levels and the inefficiencies in the trading landscape,” commented Paolo Di Silvio, executive director of Aviation and Space at Price Forbes. “We are changing that by allowing markets to digitalize their capacity and efficiently target the staple of the general aviation sub class.”
Ryan Burdon, associate director of Aviation and Space added: “The goal is to modernize the placing process for general aviation, support the London market and offer a solution to clients worldwide”
EDGE is a cloud-based web application developed by Ardonagh Specialty for brokers in the London market. (Price Forbes is part of the Ardonagh Group).
Trent Somerville, Ardonagh Specialty head of digital, added: “After months of development we’re delighted to add quote and bind functionality to EDGE – it’s a significant moment in our digital journey.”
Price Forbes’ announcement “is the first step towards EDGE becoming a multi-class quote and bind marketplace and follows on from our cross class capacity solution within the EDGE environment,” said Ardonagh Specialty CEO James Masterton.
Source: Price Forbes
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