The ITIC will formalise the existing collaboration with insurance technology suppliers on behalf of BIBA members. The founding members of the committee, who have become BIBA associates, include Acturis, Applied Systems, Durell, HUGHUB, Open GI, Polaris, Schemeserve, and SSP. A number of BIBA members have also been invited to attend the meetings to give varied intermediary perspectives.
Meeting quarterly, the role of the committee is to connect BIBA at the highest levels with technology providers and senior external stakeholders, on market trends and developments.
Seeking advice when making industry decisions
Nicola Maguire, Head of Commercial at BIBA, said: “We are excited at the possibility for this committee to ultimately become the go to place for third party organisations and decision makers including government and other regulatory bodies. This will allow them to seek advice when they are making decisions on industry matters that will have an impact on the insurance eco-system.”
Committee Chair, Steve Waller Head of Standards at industry-owned standards body Polaris, added: "Long established software houses as well as new and emerging technology providers have become part of the critical infrastructure within intermediary offices. They are relied upon to manage day-to-day operations, to trade, to document compliance and to innovate.”