Digital insurance lifecycle
Our mission is to support the entire (re)insurance life cycle, making it faster and more efficient. We believe in smoothing the process, not complicating it. We know that brokers and underwriters who use Whitespace are able to work faster and smarter.
Contracts created and processed using the digital Whitespace Platform are made entirely of data, which can be re-used and transmitted quickly and easily. Brokers and underwriters gain significant benefits from increases in speed, accuracy, availability and quantity of in-depth data for risk analysis.
Above all, customers also benefit. For them, a digital connection can mean real-time access to the risk placement, quicker payments and faster responses on claims.
The complete end to end process is supported on the Whitespace Platform.
Brokers and underwriters can:
- Create risk submissions
- Collaborate on contracts
- Communicate via real-time instant messaging and video calling within the platform
- Request and provide quotes
- Bind, sign and endorse re/insurance contracts digitally
- Work on laptops, desktops, iPads and iPhones
The entire content of a digital contract on the Platform is structured into data and is available to other systems. This is all made possible through API (Application Programming Interface) technology.
Other systems are also able to provide data back to Whitespace, updating contracts, and performing actions such as quoting or agreeing firm orders.
- Prevents rekeying
- Avoids confusion or doubt
- Produces an audit trail
- Enables real time engagement with key stakeholders
- Creates a repository of truly digital data for brokers and underwriters to use
Following a successful pilot in 2023, Marsh announces plans to deliver the next phase of its digital trading initiative using Whitespace.