The British Insurance Brokers’ Association (BIBA) has established an insurance technology and innovation committee (ITIC) to represent and safeguard the interests of its members on all technology and innovation related issues.
The committee was founded by Acturis, Applied Systems, Durell, HUGHUB, Open GI, Polaris, Schemeserve and SSP, who have been named BIBA associates. Several other BIBA members have also been invited to attend the quarterly committee meetings.
The new committee will formalise the current collaboration between BIBA and insurance technology suppliers and senior external stakeholders.
Committee participants will share market intelligence, technological innovation and emerging trends, while technology service providers will be able to advise and support BIBA members on the impact of regulatory changes, General Data Protection Regulation, and Brexit.
Nicola Maguire, head of commercial at BIBA, comments: “We are excited at the possibility for this committee to ultimately become the go-to place for third-party organisations and decision makers including government and other regulatory bodies.”
“This will allow them to seek advice when they are making decisions on industry matters that will have an impact on the insurance ecosystem. This will help the insurance technology providers to deliver effectively and our members will benefit from smooth transitions during periods of change,” she explains.
Steve Waller, committee chair and head of standards at Polaris, adds: “Software houses are relied upon to manage day-to-day operations, trade, document compliance and innovate. We are pleased to support this new committee to encourage representation and collaboration on the big issues."
