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Insurwave onboards Xceptor to digitise speciality insurance
Insurwave, a joint venture between EY and Guardtime, has partnered with Xceptor to facilitate the digitisation and automation of the insurance market. Insurwave is the world’s first marine insurance blockchain platform and the partnership will digitise the wide variety of insurance documents, building out an extensive digital library of insurance documents to enable the automation of downstream processes.
Andrew Kouloumbrides, CEO, Xceptor, said: “Being able to digitise and automate the process of what is currently a paper-intensive process between brokers, insurers and reinsurers is a huge step forward for the London market. It takes a fleet of insurers to insure a single tanker. The process is lengthy and complicated, involves numerous insurers and brokers, along with many T&Cs, claims, sub-clauses and negotiations. It’s a complex process that is crying out for automation and a clear audit trail. Xceptor’s ability to ingest all types of data, including unstructured, while simplifying and automating complex processes is a good fit for Insurwave and we look forward to working closely with the team.”
Shaun Crawford, Global Vice Chair of Industry, EY, said: “Insurwave has created a digitised single view of marine insurance records, delivering considerable efficiencies in both process and pricing. Bringing in the generation and distribution of contracts between brokers and insurance underwriters is another exciting step to dramatically speeding up the production of an agreed final contract and we are delighted to be partnering with Xceptor, a proven integrated automation solution.”
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Instant Payments and the Proliferation of QR-Driven Transactions
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Sustainable Growth and Building Strategic Capability in Digital Transformation
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Sygnum Completes First Live AI-Agent Driven Digital Asset Transactions by a Regulated Swiss Bank
Sygnum, a global digital asset banking group, today announced it has become the first Swiss regulated bank to use an AI agent to test live digital asset market transactions, with the client retaining custody, consent and control at every step. This is the latest initiative from AI@Sygnum which leads the development, integration and governance of agent-driven workflows across the group globally.
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