15 December 2017
visit http://response.ncr.com

Charles Taylor InsureTech acquires majority stake in insurance platform specialist

09 February 2017  |  2224 views  |  0 Source: Charles Taylor InsureTech

Charles Taylor InsureTech (InsureTech) has acquired a majority stake in Otak, an insurance technology platform business specialising in delegated authority solutions.

The transaction includes the intellectual property rights to Otak’s products, including Tide, which has been embedded in InsureTech’s delegated authority solution.

The solution rethinks the way delegated authority information is handled to help brokers and insurers make data driven decisions and reduce processing and compliance costs. It takes information from any source, into a centralised cloud based platform which processes, standardises and validates data against rules at source, without the need for intervention.

Jason Sahota, CEO of Charles Taylor InsureTech said: “Delegated Underwriting Authority business is projected to account for 47% of Lloyd’s premium income this year[1]. This volume of business is expected to grow, yet the process is driven through an array of complex systems and manual processes that do not support the outcomes required in a timely fashion. Our solution is helping to solve a complex problem, whilst presenting a simple, intuitive, experience that meets all parties’ requirements.

“I am pleased to welcome Andy Childs and Paul Oster of Otak to the Charles Taylor InsureTech, team. Their software development expertise and knowledge of the insurance market will further strengthen our technology offering for global insurance markets”. 

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit www.solutions.lexisnexis.comvisit www.thomsonreuters.infovisit www.atos.net

Top topics

Most viewed Most shared
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
10194 views comments | 16 tweets | 25 linkedin
satelliteRipple completes XRP Lockup
9341 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
8936 views comments | 17 tweets | 36 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
7592 views comments | 20 tweets | 11 linkedin
Australian Government amends AML rules to cover digital currenciesAustralian Government amends AML rules to...
7218 views comments | 15 tweets | 24 linkedin

Featured job

Find your next job