The hot technology news this week was that Bankstone’s good friends Adrian Flux are set to become the first specialist motor insurance provider (the first anything as far as we know) to adopt “cloud based real-time underwriting products from new start-up MGA Walsingham Underwriting Limited, using technology pioneered by The Insurer Cloud (TIC), a “platform agnostic cloud based underwriting toolset” offered by Bankstone’s equally good friends Transactor Global Solutions Limited (TGSL) “as an “add-on” to the core Transactor system” that “gives insurers and MGAs in any market sector the tools to trade with their selected panels, and routes to market, from a single point.”
All of which, sounds absolutely bl*ody brilliant, to the extent that Bankstone News has the faintest idea what the press release in question is on about.
TGSL insurer relations director Simon Macrame complemented the Fluxters fulsomely on their longstanding amenability to new technology adoption and explained, we think, that this TIC thingy will provide “a real cutting edge around pricing and responsiveness to market changes.”
Gerry Bucke of Flux responded by saying that: “We have found Transactor to be extremely user friendly, efficient and it gives us added flexibility in a constantly evolving and demanding market.”
The two firms are now believed to be working together on “a number of further ‘niche’ aggregation solutions for deployment over the coming year.” News of which we will be sure to puzzle over almost as bemusedly as we have this last announcement.
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