Bridgehaven Insurance (Bridgehaven), the specialist hybrid-fronting carrier recently authorised by the Prudential Regulatory Authority (PRA), has selected distriBind, the digital delegated authority data exchange, to support its Middle and Back Office processing.
distriBind will support Bridgehaven’s innovative hybrid-fronting model; offering fronting capacity to MGAs in the commercial and specialty markets and aligning these to reinsurers. After a competitive tender process, distriBind was selected due to its flexibility in ingesting multiple data formats and standards with maximum automation and full data visibility. With transparency at the heart of Bridgehaven’s model in supporting MGAs and acting in the interests of reinsurer partners, distriBind’s comprehensive data handling and analytics was a key factor.
distriBind CEO Dave Connors said “I am incredibly proud of this opportunity to work with Bridgehaven and excited to continue developing our relationship. It’s not every day that a new insurer is authorised by the PRA, much less one with such an innovative model, and for us to have played a small part in supporting Bridgehaven through the approval process is something of which everyone at distriBind is rightly proud.
We are looking forward to continuing to support their growth in this important market by offering them the automation and data visibility they need to work collaboratively with their MGAs and reinsurers.”
Bridgehaven Insurance is set to redefine the insurance landscape in the UK as the first company of its kind to be authorised by the PRA. Bridgehaven Insurance has selected distriBind to enable seamless reporting to its many MGAs and reinsurers, with no re-keying or manual manipulation of data, this will further solidify the unique tripartite relationships built on mutual trust and collaboration.
Stefan Nadarajan, COO of Bridgehaven Insurance adds “At Bridgehaven, collaboration and transparency are at the core of our relationships with all our stakeholders. Our partnership with distriBind has not only supported us through our approval process but is also enabling us to create a quick, efficient and robust way to work with MGAs and reinsurers. distriBind’s highly adaptable ingestion and data handling capabilities will support Bridgehaven’s goals to collaborate through clear communication and facilitate our speed of decision making.”
About distriBind – curing the insurance industry of its spreadsheet addiction
distriBind was formed in 2018 by Dave Connors with the mission to eliminate bordereaux from Delegated Authority and cure the insurance industry of its spreadsheet addiction. Dave had worked in the Insurance Industry for many years and had first-hand experience of delegated authority reporting issues before moving into functional design and innovation roles for software vendors. In 2019 distriBind was awarded a grant from Innovate UK for its Machine Learning Premium Prediction algorithms, and was in the Lloyd’s Lab in 2021 under the Claims Stream.
For more information, contact Kathryn Ellis firstname.lastname@example.org
About Bridgehaven Insurance
Bridgehaven Specialty UK Ltd, located in London is authorised by the PRA for all classes of general insurance business. Registered number 12782688 / Registered Address: One Wood Street, London, England, UK, EC2V 7WS Bridgehaven Specialty UK Ltd is a wholly owned subsidiary of Bridgehaven Europe Holdings Ltd and the group of companies will trade under “Bridgehaven Insurance”. For more information visit: www.bhvn-ins.com
Media Contact: Simone Fassom, PR Consultant at Free Partners on behalf of Bridgehaven Insurance. email@example.com