In response to evolving client demands and increasing regulatory scrutiny, Verisk has launched a purpose-built underwriting platform for the London Market that supports agility and compliance through advanced analytics.
Developed by Verisk Specialty Business Solutions (Verisk SBS), the platform is designed to assist insurers and reinsurers in managing operational complexity while enhancing underwriting workflows. It integrates Verisk’s global data resources and industry analytics with a flexible technical framework built for continuous delivery.
IQUW, a specialty insurer and reinsurer, is the first company to implement the new system.
The platform includes features such as API enablement for integration with existing technology infrastructure, scalability for future enhancements, and advanced tools that support pre-bind decision-making. It aims to reduce friction in underwriting operations by equipping underwriters with data-driven insights before binding coverage.
According to Verisk SBS, the technology is structured to deliver iterative improvements, allowing insurers to adjust underwriting processes in line with market and regulatory developments.
Chris Spencer, director of underwriting solutions at Verisk SBS, said the platform was created with the current market environment in mind. “The London Market remains a global centre of underwriting excellence, but the landscape is shifting. Our platform is designed to help insurers meet rising client expectations, improve operational efficiency, and maintain a competitive edge,” he said.
Verisk SBS president Tim Rayner said the launch reflects the company’s ongoing digital development efforts in the specialty insurance space. “This launch is a significant milestone in our ongoing investment in digital transformation,” he said. He added that Verisk’s collaboration with clients such as IQUW has guided the system’s development to ensure alignment with business requirements.
Rayner said that the platform was engineered to meet specific needs in underwriting operations. “Verisk SBS’ new platform has been specifically engineered as a fresh, modern solution, providing insurers with the strategic digital infrastructure needed to enhance underwriting effectiveness, streamline critical workflows, and sharpen their competitive edge.”
Do you think the London Market is prepared to adapt to digital underwriting tools at scale? Share your thoughts in the comments.
