Lloyd’s insurer AEGIS London has launched a digital trading division, dedicated to building and distributing digital products.
Tom Squires, AEGIS London’s head of digital trading, will lead the division, reporting to Nigel Roberts, head of distribution. He will be supported by Angus Turner, digital trading manager; Phil Lucas, business application manager, plus a series of new posts to be announced.
The digital division will work alongside AEGIS London’s underwriting teams to develop digital products and new ways of distributing them to the international market. While complex risks will continue to be underwritten at Lloyd’s, digital versions of suitable products will be made available to brokers and intermediaries in AEGIS London’s key markets including North America and Australasia.
According to Squires, the decision to create a digital trading division was inspired by the success of Opal, AEGIS London’s online quote-and-bind platform.
“Opal has been a tremendous boost for us. It’s grown our revenue and attracted a swathe of American and international business that wouldn’t otherwise have been cost effective for a Lloyd’s insurer,” said Squires…