Nick Ash talks Data Analytics with Insurance Day
One of the key contributors to this growth has been our hybrid business model, which enables B&C to function as a delegated authority broker, wholesale broker, and cover holder - allowing us to arrange and manage binding authority agreements between Lloyd’s syndicates and cover holders. Discussing growth plans, Nick details our two-pronged approach to grow our unique business model within Lloyd’s at the same time as we increase the volume of in-house capacity deployed.
Nick Ash cites one critical factor in driving success for the Bell & Clements business model in recent years as data analytics. With B&C currently collecting 80% of data on a real-time basis, this provides a significant advantage in the market – allowing us to better manage low-premium, high-volume business which is prevalent in the binding authority space. By processing this business efficiently and cost-effectively, we are able to add value to the distribution chain and we’re always looking for technologies which make the business more ‘low touch’.
To learn more about our strategy, growth plans, and current challenges facing the industry with the hardening market – read the full article in Insurance Day here.