Verisk’s e-trading platform introduces workflow automation functionality

Verisk’s Whitespace digital e-trading platform has introduced workflow automation functionality with Digital Follow which will be trialled by a select set of customers before a wider launch in the second half of this year.

Developed with underwriters’ needs in mind Digital Follow allows them, or brokers’ in-house underwriters, to automate follow lines at the quote or firm order stage, streamlining a follow underwriter’s workflow or entirely eliminating the need for an underwriter to review a risk, driving efficiency and reducing workload.

Additionally, Digital Follow allows customers to operate and run automations themselves, further enhancing the functionality of the Whitespace platform, the firm notes.

Lee Timms, head of scaling and integration at Verisk’s Whitespace, said: “I am delighted to introduce the rollout of our workflow automation solutions with Digital Follow.

“It’s another testament to the potential of Whitespace APIs and how they make it possible to not only keep up with market demands but also anticipate and address customers’ needs with tailor-made solutions.”

Additional solutions set to be introduced include Auto Decline and Appetite Matching. Verisk highlighted that the platform’s ability to integrate with other systems is critical to the success of the digitisation of the insurance market.

Building the platform on APIs enables Verisk customers to explore the reality of Whitespace enabling end to end insurance processes in a digital manner.

Reid Stanway, chief digital officer at Verisk Specialty Business Solutions, added: “I’m enormously pleased we can introduce Digital Follow to our customers. Being able to provide a solution that further streamlines the way people intuitively use our Whitespace platform is what Verisk is in the market to do.

“I’m confident that Digital Follow will quickly prove a huge asset to brokers and underwriters, and that they will see it as a meaningful step forward in the realm of digital placement innovation.”

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