LONDON, UK, December 22, 2021 - Digital (re)insurance trading platform provider Whitespace Software Ltd today announced its connectivity to ACORD Solutions Group’s ADEPT gateway. ACORD Solutions Group (ASG) is the industry-owned technology provider subsidiary of ACORD, the standards-setting body for the global insurance industry.
Whitespace’s digital platform for the global (re)insurance marketplace delivers increased speed, accuracy, availability, and quantity of in-depth data for risk analysis for brokers and carriers. Its end-to-end integration with ASG’s ADEPT (ACORD Data Exchange Platform & Translator), which supports real-time data exchange, translation, and transformation, will enable full connectivity between stakeholders in the insurance ecosystem.
Marcus Broome, Director of Whitespace, said, “Adding the ADEPT gateway to the Whitespace platform’s capabilities simplifies connectivity for trading partners, enabling seamless data transfer between brokers and carriers trading on the Whitespace platform.”
Whitespace and ACORD share a focus in industry-wide digitisation powered by standardised data exchange. Whitespace has previously donated their JMRC standards to the global industry through ACORD, and the partnership has grown with subsequent collaboration and Whitespace’s recent acquisition by Verisk’s Sequel. Whitespace and ACORD’s participation in the Data Advisory Group for the H1 simulation, a key strategic focus of the Future at Lloyd’s initiative, has further enabled them to drive modernisation of the end-to-end ecosystem.
“We are pleased to be working closely with Whitespace as an integral part of the expanding ACORD solution provider ecosystem,” said Chris Newman, Managing Director – Global, ACORD. “By providing a common interface with all leading market placing platforms via ADEPT, and supporting the goals of the Future at Lloyd’s, we will deliver substantial benefits to both London and the wider international market.”
Whitespace Software Limited is a London-based technology company focused on the digital transformation of the insurance industry. It has particular expertise in digital contracts, electronic trading, claims management, pricing and Lloyd’s members’ agents – the area that drove its first success when it started in 1985. Today it uses the very latest technologies to deliver the best possible digital insurance experiences at internet scale and with enterprise security. A key focus is the Whitespace Platform, the truly digital platform for the global (re)insurance marketplace, and one of only two platforms fully approved by Lloyd’s. Learn more at www.whitespace.co.uk.