Business

BIBA forms new insurance technology committee

The committee will aim to formalise the existing collaboration with insurance technology suppliers on behalf of BIBA members

The British Insurance Brokers’ Association (BIBA) has revealed that it has formed an Insurance Technology and Innovation Committee (ITIC) to represent and protect the interests of its members on all technology and innovation related matters.

The committee will aim to formalise the existing collaboration with insurance technology suppliers on behalf of BIBA members.

The founding members of the committee, who have become BIBA associates, include Acturis, Applied Systems, Durell, HUGHUB, Open GI, Polaris, Schemeserve and SSP.

Furthermore, a number of the group’s members have also been invited to attend the meetings to give varied intermediary perspectives.

Nicola Maguire, head of commercial at BIBA, said: “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 & innovation providers to deliver effectively and our members will benefit from smooth transitions during periods of change.”

Steve Waller, committee chair, head of standards at Polaris, added: “Long established software houses as well as new and emerging technology providers have become part of the critical infrastructure within intermediary offices.

“They are relied upon to manage day-to-day operations, to trade, to document compliance and to innovate. We’re pleased to support this new committee to encourage representation and collaboration on the big issues.”

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