Markets/Coverages: Howden Launches Innovation Hub With £500M of Delegated Underwriting Capacity, Commits £10M for Insurtech Funding

Howden, the London-based insurance group, has launched Howden Ventures, subject to Lloyd's approval, with £500 million ($607.1 million) of delegated underwriting capacity, to create an investment and risk incubator that will fast-track insurance product development. The platform includes delega...

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Bibliographic Details
Published inInsurance Journal
Format Trade Publication Article
LanguageEnglish
Published San Diego Wells Media Group, Inc 16.10.2023
Subjects
Artificial intelligence
Breakdowns
Collaboration
Funding
Innovations
Insurance industry
Maritime industry
Product development
Underwriting
Online AccessGet full text
ISSN0020-4714

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Summary:Howden, the London-based insurance group, has launched Howden Ventures, subject to Lloyd's approval, with £500 million ($607.1 million) of delegated underwriting capacity, to create an investment and risk incubator that will fast-track insurance product development. The platform includes delegated underwriting authority, backed by leading Lloyd's underwriters, including Tokio Marine Kiln, Chaucer, and Liberty Specialty Markets, which provides £500 million of syndicated underwriting capacity to support the development of new insurance solutions. "By doing so Howden Ventures is aligning interests from all corners of the market to create an economic model that will help the insurance industry invest in the type of long-term, innovative solutions that clients are looking for.
ISSN:0020-4714