Ed, the global reinsurance, wholesale and specialty broker, today announces that its Bermuda operation has developed a new front-end client portal, and within that has launched a digital wage & hour product, in conjunction with Argo Group.
Wage & hour offers protection to U.S. insureds and the new portal introduces a new, technology driven route to market, reforming a manual and paper-driven process. Clients are able to enter data on to the portal, enabling the flow of information to carriers via Ed’s proprietary trading platform, TradEd.
Wage & hour liability insurance is handled within the Bermuda marketplace; Argo has been at the forefront of innovation in this space. The data first process will streamline the process for clients and create efficiencies through the process enhancing the client experience overall.
Colin Kelley, Head of Liability Ed Broking Bermuda, commented: “The application of technology is an important component of Ed’s offering in Bermuda. Wage & hour processes were ready for modernisation. This new portal will provide benefits to clients and industry participants alike as we improve productivity in the insurance process. We are delighted to have collaborated with Argo on this step forward.”
Kimberly Lewis, VP – Professional Lines Insurance at Argo said: “After recognizing an unmet need in the U.S. small to medium-size enterprise (SME) market, Argo launched its stand-alone wage and hour product in 2017. Argo’s Middle Market Wage & Hour Product focuses on companies with 10k or fewer employees from any industry segment or U.S. state. We are able to offer lower retentions to this class of customers.”
Michael Butler, SVP – Professional Lines at Argo remarked: “Innovation is a core component of the culture at Argo Group. We are very pleased to partner with Ed Broking Bermuda and their TradEd platform so that our innovative Wage & Hour product and underwriting process can further evolve to our targeted class of business.”