Chaucer has announced the launch of a new international D&F property smart consortium using InsurX’s exchange platform – enabling London Market brokers to access algorithmic capacity to follow Chaucer’s quotes.
InsurX’s exchange statistics show that 61% of quotes are returned within 15 minutes, 84% within an hour and 99.7% within 2 hours.
Mel Smart, head of international property at Chaucer said: “The future of our insurance industry is undergoing a transformation. Ever increasing demands on speed of service and growing facilitised capacity, are reshaping what’s required to be a true leader. By working with InsurX we can enhance the service we provide to our brokers, offering significant capacity, in addition to our own, within a few hours of issuing a quote.”
Gilbert Harrap, CEO at InsurX added: “We have been working closely with Chaucer since 2023, when they first launched algorithmic capacity in the contingency market using InsurX’s exchange technology. We are now excited to be working with Chaucer in another class – international D&F property."
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