Operations/tech

Verisk said the deal will expand its data and technology solutions for straight-through processing and distribution to a growing market of SME brokers, coverholders and MGAs.

Guy Carpenter was the sole placing broker sourcing capacity for the tie-up.

Joe Gordon also reiterated plans to switch off PPL’s older Ebix Europe platform later this year, claiming some participants see friction with brokers “when it’s not there”.

The integration launched by Eigen Technologies, a provider of AI-driven document processing and data extraction services, marks another advance of large language-model technology in the London market.

Egan will receive an annual base salary of $1.1mn and an annual target bonus equal to 140% of his salary.

Artificial Labs is developing a pilot with several carriers and brokers that integrates a generative AI model, including the use of ChatGPT, into its algorithmic underwriting platform.

PPL has avoided having to renew with Ebix Europe again for 2024 – a move that would have cost the placement platform around £8mn-£10mn.

The Corporation appointed two barristers to examine the behaviour of five employees within the underwriting directorate.

The go-live has started with more than 450 colleagues in Aon UK’s commercial risk teams covering marine financial and professional services, natural resources and construction.

The technology company has completed a major step in moving London market systems to the cloud, in a project that lays some of the groundwork for the Blueprint Two reforms.

The group’s recent gear shift on growth has elevated the group’s risk profile across areas including M&A, financing, integration and liquidity.

PPL is looking to enhance its capabilities around generating a CDR in a pilot that could also demonstrate how a CDR validation process could work for many firms under the Lloyd’s Blueprint Two programme.