23 November 2021 – UK InsurTech Send Technology Solutions Ltd (Send) has launched the Delegated Authority Workbench, a single platform solution to provide insurers with automated, streamlined bordereaux and coverholder management.
The generative AI-driven Underwriting Workbench platform is the first in the market to process open market and delegated business in one solution, providing a standardised view of risk exposure and detailed analysis on MGA and Coverholder performance in real-time.
The platform, which offers advanced data ingestion and management, has been developed to bridge the gap between traditional ways of working and future-state delegated authority. Functionality includes generative AI based bordereaux processing for spreadsheets with rule validation, and API-enabled processing in real-time of any unstructured data written by delegated authorities.
The solution has already been adopted by a leading global reinsurer, and the business is in talks with a number of other leading (re)insurance providers, interested in using the Workbench to improve operational efficiencies and take control of the regulatory oversight of the businesses they work with.
Send co-founder and CEO Ben Huckel said:
“Following the successful launch of our Underwriting Workbench earlier this year, we have continued to develop our market-leading technology to deliver a solution tailored to the needs of insurers and reinsurers managing large portfolios of delegated business.
By automating and speeding up bordereaux and coverholder processes, insurers can now streamline operations and work smarter. And our solution gives them confidence that they have everything they need to carefully monitor and regulate the performance of their delegated arrangements at a time when they are under increased pressure to maintain profitability.”
Features of the Delegated Authority Workbench include:
- Advanced rule validation, configurable rules engine, full data capture and automated checks.
- Seamless extraction of data sources with APIs. All submission options are available including unstructured documents.
- Highly-configurable conversational workflows around MGA and Coverholder onboarding and due diligence, scheme setup and bordereaux processing.
- Advanced artificial intelligence and data processing toolsets to import, consolidate and process data in real-time.
- Intuitive, easy-to-use UI built on outstanding UX design. Generative AI capability allows users to manage breaches within the mapping process.
- Powerful dashboards and rich reporting functionality showing scheme performance, SLAs and pricing deltas across different lines of business.
Click here to learn more:
ENDS
For more information, contact:
Matt Beasley: mbeasley@fullcirclecomms.co.uk, 020 7265 7887
Kirsty Plank: kplank@fullcirclecomms.co.uk, 020 7265 7887
Notes to Editors:
About Send:
Send is a rapidly growing InsurTech software company based in London with global reach. The company has developed an innovative connected workbench that enables insurers and MGAs to automate, streamline and optimise their operations. It’s a composable platform that gives teams everything they need to be more productive, in one place.
The Send platform moves siloed operations and processes into a unified, efficient solution, providing a consolidated view of all tasks and risks throughout the entire lifecycle. Its automation enables clients to streamline processes, improve predictability, and expand capabilities.