Concept: British insurance broker Tysers has launched a cloud-based platform Tconnect consolidates processes and automates the end-to-end life cycle of a insurance policy. The cross-functional platform is a digital transformational initiative that can connect systems, clients and markets to digital trading platforms.

Nature of Disruption: Tconnect platform develops client-facing digital quotes and binds capabilities and portals, modernizing existing IT infrastructure to improve operational efficiencies and accelerate business growth. It links the back and front office functions to provide an efficient, accurate, and faster service for its clients. The platform also automates sanctions checking, contract certainty checks, and task and query management workflow with centralized governance. API-enabled, Tconnect can integrate with Tysers’ existing IBA systems and services directly via APIs to enable digital connectivity to clients both upstream and downstream. Moreover, the API technology eliminates re-keying and using the RPA (Robotic process automation) technology to automate processes while being fully cloud-based allows users to access the platform anytime, anywhere, on any device.

Outlook: Tysers with the launch of Tconnect aims to better serve their clients, and improve other high-value add activities with the digital transformation resulting in the modernization of its existing IT infrastructure. The platform claims to help them enhance the oversight and insight into business, driving efficiencies and further enhancing the client experience. Tconnect can integrate and streamline Tysers’ working practices onto one platform that manages the end-to-end lifecycle of a policy. The platform has been implemented in Marine and North American P&C, Tysers’ two largest broking departments, and plans to roll out across the entire wholesale business.

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By GlobalData