BMS adopts Artificial Labs’ Contract Builder as part of its digital strategy

The digital contract-building platform is scheduled to be launched across several business lines within BMS in February 2024, with further integration into additional lines planned for the remainder of the year.

The Contract Builder platform will be integrated into the firm’s existing Broker Workbench, enabling seamless contract building and slip assembly processes.

The initiative will enhance analytical reporting capabilities, reduce manual data entry, and align with BMS’s digital strategy, underscoring their commitment to embracing digital transformation in the insurance market.

Adam Stafford, Chief Operating Officer at BMS Group, stated, “It’s uncommon to see broking teams express such enthusiasm for a new product as they have been with Artificial Labs’ Contract Builder. The transition has been seamless, and I look forward to its implementation across our remaining teams as we continue to enhance our digital ecosystem with the Artificial Labs team.”

BMS is an independent specialist insurance and reinsurance broker, dedicated to providing innovative solutions and expertise in the insurance market.

Artificial Labs specialises in algorithmic underwriting and offers innovative solutions for the insurance industry. Their Contract Builder platform streamlines the contract-building process, enhancing efficiency and accuracy for insurance brokers.

David King, co-founder and co-CEO at Artificial Labs, spoke enthusiastically on the partnership. He said, “We are delighted to partner with BMS and recognise their invaluable contribution to its development. It is crucial for us to partner with organisations that want to be part of the next generation of insurance, and in BMS we know we have found that. The partnership is emblematic of the value of our products and the strides we are making to build advanced technological solutions for the insurance market.”