Tysers bolsters broking operations with new platform

Tysers has revealed that its Tconnect platform has bolstered the firm’s broking operations following its launch in 2021.

In a statement released yesterday (30 August 2023), the Lloyd’s broker said the cloud-based platform had now been rolled out across the business and was streamling the end-to-end life cycle of a policy.

In turn, Tysers said this was providing a “faster and more responsive” client service.

For example, it revealed that the average time to process client queries has fallen by 60%, with the platform handling risk placement in three operational lines – direct and fac, treaty and delegated authority – rather than by class of business.

“This breaks down internal silos and standardises processing and will allow Tysers to grow its business by seamlessly slotting in new teams acquired through organic growth or acquisition,” the firm added.

Steve Jolley, chief information officer at Tysers, said using Tconnect had ”resulted in much more accurate and efficient processing”.

“In addition, the platform provides a stream of data that links our clients and markets, providing risk transfer services for a digital insurance market alongside a superior client service,” he added.

Integration

Tconnect also uses Tysers’ data sets, which can integrate with eTrading platforms such as PPL Next Gen and Whitespace.

PPL, which is part of Lloyd’s of London’s Future at Lloyd’s strategy, is using its Next Gen platform to support flexible negotiation and faster placement for the London insurance market.

Adoption of it is now proceeding, with the market set to fully transition to the new platform later this year (1 October 2023).

Tysers, which was acquired by broking group AUB in 2022, added the the firm could also integrate into Lloyd’s new Blueprint II architecture

Mike Emmett, chief executive of AUB, said Tconnect was a ”major step forward and a key milestone in our digital transformation programme”.

“[This] is improving operational efficiencies, accelerating business growth and further strengthening our client offering,” he added.

”As an end-to-end broking platform across all of Tysers divisions, Tconnect enables teams to work in one way, with more oversight, compliance, and openness to both clients and markets, powering a digital route to market for clients.”