LONDON – Catlin Underwriting Agencies Limited, a unit of Catlin Group Limited (‘CGL’; London Stock Exchange), the international specialty property/casualty insurer and reinsurer, is studying how technological innovations could improve service to brokers and clients in the Lloyd’s market.
Catlin recently hosted an interactive event with Lloyd’s to showcase IBM’s digital ‘TouchTable’ technology. The Touch Table – a table containing a large, touch-sensitive display – 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 allows 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. 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, whilst using advanced technology to allow collaboration as if on paper.
More than 90 Catlin underwriters and Aon brokers participated in the demonstration, held in Catlin’s London office. The demonstration allowed brokers and underwriters to test the technology and encouraged 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), said:
“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.”
For more information contact:
Media Relations:
James Burcke,
Head of Communications, London
Tel: +44 (0)20 7458 5710
Mobile: +44 (0)7958 767 738
E-mail: james.burcke@catlin.com
Investor Relations:
William Spurgin,
Head of Investor Relations, London
Tel: +44 (0)20 7458 5726
Mobile: +44 (0)7710 314 365
E-mail: william.spurgin@catlin.com
Notes to editors:
1. Catlin Group Limited, headquartered in Bermuda, is an international specialist property/casualty insurer and reinsurer writing more than 30 classes of business worldwide through six underwriting hubs. Gross premiums written in 2011 amounted to US$4.5 billion.
2. Catlin has established operating hubs in London, Bermuda, the United States, the Asia-Pacific region, Europe and Canada. Through these hubs, Catlin works closely with policyholders and their brokers. The hubs also provide Catlin with product and geographic diversity. Altogether, Catlin operates more than 55 offices in 21 countries.
3. The Catlin Syndicate at Lloyd’s (Syndicate 2003) has ranked as the largest syndicate at Lloyd’s in terms of gross premium volume since 2007.
4. Catlin's underwriting units are rated 'A' by A.M. Best and Standard & Poor's.
5. Catlin shares are traded on the London Stock Exchange (ticker symbol: CGL). More information about Catlin can be found at www.catlin.com.
6. Catlin is the title sponsor of the Catlin Seaview Survey, a major scientific expedition that will include the first comprehensive study to document the composition and health of sections of the Great Barrier Reef across an unprecedented range of depths. The scientific data gathered by the Catlin Seaview Survey will strengthen the understanding of how climate change and other environmental changes are likely to affect ocean ecosystems. More information is available at www.catlinseaviewsurvey.com.
