New platform to Drive Innovation In The Insurance Market
Exvine, a social business software services and consultancy for the insurance market, today announced a platform that has been specifically developed for the UK insurance market, and promises to bring innovation to the industry by creating secure, auditable collaborative spaces between organisations to enhance business relationships.
Exvine was established in 2009 and since this time has worked closely with a number of the key players in the market to develop the Exvine platform to ensure it meets the needs of the complex and vibrant insurance marketplace. The Exvine platform is specifically targeted towards the insurance market to supply a low cost, secure, cloud based platform that will provide Brokers, Agents and Underwriters with access to rich information, collaborative networks and multiple transactional systems. The Exvine platform is based on the idea that online communities will ultimately support and reflect the needs of real life niche communities, rather than the one-size-fits-all mega-portals that currently dominate online networking. These professional communities can enhance competitive advantage by connecting clients, colleagues, partners and work practices with content in complex global business environments.
Experienced CIO and Change Director, Chris Rawson, is the Managing Director of Exvine and has more than thirty-five years’ experience in the IT and global insurance industry. Rawson teamed up with entrepreneur and founder of sister organisation Mvine after seeing a demonstration of the Mvine platform and foreseeing the potential for the product within the insurance industry. Rawson explains:
“The reinsurance and large commercial supply chain is typically complex, geographically dispersed, involves multiple technologies and processes and even single risks often require collaboration between many business people and organisations. Over the years numerous attempts have been made, with mixed success, to 'transactionalise' what is typically a complex business process, the core of which is built on trust and established relationships between market players (clients, brokers, underwriters, lawyers, etc.)
Exvine brings to the insurance industry a secure, proven, cloud based platform, designed to complement and enrich business relationships across collaborating organisations, deploying the latest in communications and document management technologies. With the advent of cloud computing and advancements in browser technology, Exvine is bringing this knowledge together to build a market facing insurance/reinsurance service. The speed of communication, confidentiality, ease of access to both documents and the right people, across different time zones is crucial in this market. The vision is to offer a one-stop service to existing vendors representing the different elements of insurance/reinsurance process:
"We have beta tested this platform with some of the leading players in this space and the reaction has been overwhelmingly positive. We feel we have definitely found a niche in the market that needs to be addressed for which up until now there has not been a solution. Business relationships between clients, brokers and underwriters remain at the core of the international commercial lines/speciality insurance market and it is these face-to-face relationships and the trust which they engender that have underpinned the success of the market over many years. I’m excited that Exvine offers an innovative approach to improving the quality of human business interaction and process efficiencies using tools and technologies which are just becoming mainstream across many industries,” concludes Rawson.
Wednesday, 05 October 2011 London, UK,
