We are excited to announce that we have been selected by Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance’s Global Risk Solutions division, to process delegated Affinity and Program business written in Europe.
Simon Baily, Affinity & Program Business Distribution Manager - Europe at LSM commented: “Technology and data are having a growing impact on insurance transactions. We selected distriBind as their bordereau and data management platform, with automation capabilities, which will enable us to optimise efficiencies and enhance data quality across the risk, premium, and claims bordereau processing as well as immediately eliminating bordereau on some accounts.”
distriBind CEO Dave Connors said: “I am thrilled to be able to make this announcement and delighted that distriBind has been selected by Liberty. We successfully delivered two pilot projects that showcased our ability to process complex data with and without bordereau. This deal is a testament to the hard work of the teams, their collaboration and transparency, and together we align on a shared vision to eliminate manual processes in bordereau management, putting technology to work to do more of the heavy lifting.”
distriBind was founded by Dave Connors in 2018 with a mission to cure the insurance industry of its spreadsheet addiction and has recently graduated from the F10 Global Incubator having passed through the Lloyd’s Lab in 2021.
“We’re looking forward to growing our partnership with Liberty as we bring the benefits of low-touch, spreadsheet-free oversight to coverholder business in Europe,” said Connors.
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 bordereaux 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.
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About Liberty Specialty Markets
Liberty Specialty Markets offers specialty and commercial insurance and reinsurance products across key UK, European, Middle East, US, Bermuda, Asia Pacific & Latin America markets. We provide brokers and insureds with a broad product range through both the Company and Lloyd’s markets and have over 2,000 employees in approximately 60 offices.
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At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people and businesses embrace today and confidently pursue tomorrow.
In business since 1912, and headquartered in Boston, today we are the sixth largest global property and casualty insurer based on 2020 gross written premium. We also rank 78 on the Fortune 100 list of largest corporations in the US based on 2021 revenue. As of December 31, 2021, we had $48.2 billion in annual consolidated revenue.
We employ over 45,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers’ compensation, commercial automobile, general liability, surety, and commercial property.
For more information, visit www.libertymutualinsurance.com