Early results from the rollout of the commercial insurance industry’s first neutral digital ecosystem have seen renewal times dramatically reduced and data quality significantly improved, according to the technology's developers and partners, who say that Big Ticket heralds a “transformation to the customer experience”, offering a solution to the “broken renewal process” in the global commercial insurance industry.

Big Ticket is an industry-backed renewal data platform shared between clients, brokers and insurers, provided free-of-charge to risk managers or insurance buyers. Its technology ecosystem was developed with founding partner Mastercard, with global advisory board members from Airmic, Aon, Aviva, Oasis and Zurich. The platform is currently live across the US and UK with further worldwide deployments slated for 2025.

Robert Bartlett, co-founder and CEO of Big Ticket, said: “Big Ticket was designed to address the broken renewal process and the early results show it is doing just that. Risk managers, brokers and insurers are seeing the efficiencies it delivers in terms of processing renewals in a fraction of the time – hours and minutes, rather than months – and delivering upgraded model-ready data that can be seamlessly integrated into 100+ downstream systems for every risk. These efficiencies will generate significant benefits...and will give risk managers back the time they need to better measure and mitigate their risks.”

Julia Graham, CEO of Airmic and chair of the Big Ticket advisory board, added: “Airmic has backed Big Ticket from the outset – we have always recognised its potential to change the industry on a global scale. But the results from its first year of operations are impressive – the benefits and opportunities it presents are even more significant than we hoped. Risk management associations and their members have a key role in driving the digital agenda and Big Ticket is a game-changer for the insurance industry and for risk managers alike. The next step is for us to support our members to adopt Big Ticket at scale. To that end we are delighted to be working with KPMG on the development of a playbook to support the rollout of Big Ticket worldwide.”

---