distriBind, the leading digital delegated authority data exchange platform, has announced a collaboration with Greenlight Reinsurance, a distinguished specialist in property and casualty reinsurance from the Cayman Islands.
The primary objective of this alliance is to enable Greenlight Re to minimise manual operations and improve its data transparency.
distriBind is a revolutionary platform that aims to rid the insurance sector of its dependence on spreadsheets. Established in 2018 by Dave Connors, its mission is to eliminate bordereaux from Delegated Authority, addressing the pervasive issue of spreadsheet reliance in the insurance industry. Connors’ extensive background in insurance, coupled with his roles in functional design and innovation for software providers, laid the foundation for distriBind’s creation and success.
Greenlight Reinsurance operates as a specialist in property and casualty reinsurance, rooted in the Cayman Islands. Their focus is on offering niche reinsurance solutions tailored to meet specific client needs.
distriBind was chosen by Greenlight Re after a rigorous pre-sales cycle, during which distriBind showcased its effortless processing capabilities, along with its proficiency in providing detailed reporting and analytics.
distriBind Head of Pre Sales, Charlie Rock said, “This opportunity with Greenlight Re came about from a series of events and increased visibility for distriBind throughout 2023 in which we were able to prove and reinforce its business value. I am excited for this project to start. We are looking forward to supporting Greenlight Re’s business with the objectives of reducing manual processes and enhancing automation and data visibility.”
In recognition of its innovation, distriBind received a grant from Innovate UK in 2019 for its Machine Learning Premium Prediction algorithms. Additionally, in 2021, distriBind participated in the Lloyd’s Lab under the Claims Stream, signifying its position at the forefront of insurance technology innovation.
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