Specialist insurer Apollo Syndicate 1969 has joined forces with Artificial Labs, the algorithmic underwriting insurtech, to introduce an innovative smart follow collaboration.
This collaboration aims to unleash fast, consistent, and dependable capacity for brokers operating within the London market.
Building upon a successful proof of concept conducted in early 2023 which harnessed Artificial Labs’ technology for marine hull, this partnership will extend to various other lines of business. It also intends to provide brokers with a wider spectrum of options and prospects within the smart follow market.
Our ongoing initiatives are geared toward establishing a framework for the future underwriter through technological advancements, partnerships, and innovation. Spearheaded by Farris Salah, our Head of Smart Follow, this collaboration represents one of the most prominent and exciting outcomes of our endeavours.James Slaughter, Chief Underwriting Officer at Apollo Syndicate 1969
Apollo is an independent specialist insurer and reinsurer with a team of talented and experienced professionals across a number of specialty and innovative lines. Apollo offers adaptable and flexible underwriting services at Lloyd’s and leads a number of London market consortia.
The collaborative effort will bolster brokers in their diverse transaction methods, whether in-person at the Box, via web portals, or anywhere in between.
At Artificial, we’re using the latest cloud-based tools and machine learning techniques to give commercial insurers and brokers power over their dataDavid King, co-CEO of Artificial Labs
Through data extraction and transformation techniques, we facilitate fully automated, algorithmic underwriting. Artificial Labs system allows end-to-end data flows, unlimited integrations, policy management and contract builders, all within one automated underwriting platform.
“We are aligned in the belief that algorithmic technology will be transformative to our industry, giving brokers far more choice than they have currently and unlocking new opportunities”, said David King, co-CEO of Artificial Labs.
The platform offers a foundation for brokers and underwriters to write smart follow business, and insurtech envisage this technology will bring about a step change in the industry.
by Peter Sonner