The British Insurance Brokers’ Association (BIBA) has established an Insurance Technology and Innovation Committee (ITIC) to represent and protect 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 partners. Several other BIBA members were also invited to the quarterly committee meetings.
The new committee will formalize the current collaboration between BIBA and insurance technology providers as well as high-level external stakeholders.
The committee’s participants will exchange market information, technological innovations and emerging trends, while technology service providers can advise and support BIBA members on the effects of regulatory changes, the General Data Protection Regulation and Brexit.
Nicola Maguire, Head of Commercial at BIBA, comments: “We are excited about the opportunity for this committee to ultimately become the point of contact for third-party organizations and decision-makers, including governments and other regulators.”
“This will enable them to seek advice when making decisions about industry issues that will affect the insurance ecosystem. This will help insurance technology providers deliver effectively and our members will benefit from smooth transitions in times of change, ”she explains.
Steve Waller, Polaris Committee Chairman and Head of Standards, added, “Software houses are trusted for day-to-day operations, commerce, document compliance and innovation. We are excited to support this new committee to promote representation and collaboration on the big issues. ”
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