Insurwave has announced that Westfield Specialty International (Westfield) and its syndicate at Lloyd’s have joined as new clients.
The collaboration arose from Westfield’s strategic aim to modernise its operations and move beyond legacy catastrophe and capital modelling systems. The specialty insurer sought to showcase high-quality reporting to the Lloyd’s market using innovative technology and robust data infrastructure, strengthening its competitive edge and operational efficiency.
Insurwave is an AI-driven data ingestion and integration platform that acts as a digital gateway for submissions into Westfield. It extracts, standardises, and enriches submission data to produce consistent, accurate outputs for downstream catastrophe and flood modelling, as well as pricing processes.
At the point of data extraction, Insurwave also enables Westfield’s underwriters and exposure managers to rapidly review and assess the quality and scoring of risks before releasing them for downstream modelling and processing, including quote and bound risks.
This partnership marks a major step for Westfield in its digital transformation journey. By adopting Insurwave’s technology, the insurer is transitioning from manual and spreadsheet-based methods to a fully AI-powered ecosystem. This evolution allows Westfield to respond faster to market opportunities, streamline portfolio optimisation, and enhance operational agility during soft market conditions.
Insurwave chief strategy officer Richard Archer said, “Westfield was quick to recognise the value of working with best-in-class specialists to automate the submission-to-quote process, and this project is an early example of how the market is set to transform in the future. The role of AI in specialty insurance will continue to grow, and we’re pleased that our ability to extract, cleanse, and enrich submission data in minutes, rather than days, is already enabling this at scale.”
Westfield Specialty International head of catastrophe modelling Stephen Martin added, “To be able to transition from a largely manual, cat modelling-pricing-portfolio roll-up and optimisation process, into a fully digital/AI-driven ecosystem within 12 months is a remarkable achievement. Enabling our underwriters to respond quickly to the market is a real competitive advantage for the syndicate as we navigate soft market conditions and position the business to flourish over the long term.”
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