The risk landscape is something that AI can drill into, both historic data and future patterns or trends. This new Whitepaper looks at the challenge ahead;
Artificial Labs (Artificial), the London-based algorithmic underwriting and placement company, today unveiled its latest whitepaper: Digital broking: A transformation playbook for wholesale intermediaries.
The report states that the London market is at a pivotal moment, as brokers shift from document-heavy workflows to seamless, data-driven trading models. The report outlines how wholesale intermediaries are embracing digitalisation to tackle cost disadvantages, retain premium, and meet client demands for immediacy and clarity.
“London’s wholesale broking market has reached a defining moment of transformation,” said David King, Co-Founder and Co-CEO at Artificial. “For the first time, brokers are discovering how tech partners can help them digitise the entire placement process — from client engagement to post-bind processing — and maintain a single version of the truth.”
The report features case studies from leading brokers Aon and McGill and Partners, which explore how they are using strategic partnerships and configurable platforms like Artificial’s Smart Placement to transform their placement strategies and increase operational efficiency.
The whitepaper highlights:
· Efficiency gains: Brokers using Artificial’s technology have reported an 80% reduction in cost and admin required to place business into facilities.
· Premium uplifts: Early adopters have seen a 100% increase in premium inflows within weeks, as digital facilities trap more business that would otherwise leak to competitors.
· Market growth: Digital and algorithmic broker facilities are forecast to grow at 50% per annum across the London market, according to the 2024 Lloyd’s Market Association report.
· Competitive advantage: Brokers deploying digital contracts and algorithmic solutions are retaining complex risks and improving client outcomes at scale.
“Digitalisation is no longer a question of ‘if’ but ‘how fast,’” said Mr. King. “Brokers are recognising that working with technology partners who truly understanding their challenges is central to achieving true interoperability, increasing automation and delivering stronger outcomes for their clients.
“This white paper highlights how leading brokers are already advancing their digital placement strategies at pace.” Download the whitepaper here https://tinyurl.com/Artificial-Digital-Broking
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