12 July 2023 – Leading InsurTech Send Technology Solutions Ltd (Send) has partnered with ACORD Solutions Group (ASG), the digital solutions provider subsidiary of global insurance standards-setting body ACORD, to create a frictionless underwriting process for Lloyd’s and London Market customers.
In alignment with Blueprint Two, Lloyd’s programme to deliver a digitised marketplace for its members, Send is utilising ADEPT (ACORD Data Exchange Platform and Translator) via API to enable standardised communication from placing platforms and other parties in the insurance ecosystem.
ADEPT allows Send’s customers to seamlessly send and receive ACORD Standard accounting, claims, and placing transactions. Not only does this reduce manual data entry and ensure consistency, but it enhances and speeds up the overall underwriting process.
The partnership will allow London Market insurers to leverage the benefit of Lloyd’s Blueprint Two digital services, and enable eMessaging capabilities for placing, accounting and claims data exchange.
Send co-founder and CEO, Andy Moss, commented:
“We are looking forward to collaborating with ACORD and its partners. Partnerships like this play a key role in embedding an ecosystem that facilitates efficient digital exchange, bringing the market closer to Lloyd’s vision of the future of underwriting as laid out in Blueprint Two.
Our goal is to create a frictionless underwriting process for agile insurers. Leveraging solutions from ASG means our customers can work smarter and faster with improved compliance.”
Chris Newman, EVP & Global Managing Director of ACORD Solutions Group, said:
“Underwriting platforms like Send represent an evolution in the insurance process that has remained unchanged for decades. By integrating these standardized data exchange capabilities into the Send platform, we can together reduce complexity for insurers, and enable them to reallocate time previously spent on tedious admin processes and instead focus on growing their portfolios.”
Send has also become a member of ACORD, the standards-setting body for the global insurance industry. Many of Send’s customers use ACORD Data Standards and ACORD Forms and as part of this membership, Send can facilitate rapid ingestion of forms to help insurers quickly classify and triage new submissions.
ENDS
For more information, contact:
Kirsty Plank: kplank@fullcirclecomms.co.uk, +44 20 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 re/insurers and MGAs to automate, streamline and optimize their underwriting operations. It’s a modular platform that gives teams everything they need to be more productive, in one place – a single platform for managing new business, renewals and endorsements.
The SaaS platform brings complex data out of silos into one solution, providing a consolidated view throughout the lifecycle. Its automation enables new and mature carriers to eliminate rekeying, improve predictability, and work smarter.
About ACORD Solutions Group:
ACORD Solutions Group delivers end-to-end, enterprise-class solutions to optimize the cost, speed, and accuracy of consistent data exchange. We are uniquely positioned to provide insurance solutions which increase the value of data and connect all stakeholders, regardless of size, geography, or legacy constraints. ACORD Solutions Group facilitates integration while bridging the gap between legacy capabilities and strategic modernization. ACORD Solutions Group is an extension of ACORD, the standards-setting body for the global insurance industry. Learn more at www.acordsolutions.com.