Lockton partners with Artificial Labs
Lockton has formed a strategic partnership with Artificial Labs in the UK.
They are implementing Artificial’s Contract Builder, a digital tool for creating and processing MRCv3 insurance contracts.
The ‘data first’ approach of Contract Builder, which has already shown success in various business lines, enhances Lockton’s digital infrastructure, enabling efficient creation and management of compliant contracts. This collaboration is timely, given the market’s increasing focus on digital transformation driven by Lloyd’s Blueprint Two initiative
“We are excited by this new partnership and have enjoyed working with Artificial over several months to help develop Contract Builder to meet the MRCv3 and CDR standards. We are proud to be one of the first brokers to bind a genuinely ‘data-first’ MRCv3 in the market. Contract Builder forms a key element of the digital infrastructure Lockton in the UK is building to support its clients and deliver a digital service platform for the future.” – Carl Smith, Head of Europe Operations and Transformation at Lockton.
“We are delighted to announce this strategic partnership with Lockton. Through the creation of endlessly configurable digital contracts, Lockton brokers can offer even more exciting propositions to their clients in the new London Market era. This collaboration marks another milestone in Artificial’s commitment to building market-leading technology solutions for the Lloyd’s and London Market.” – David King, Co-CEO of Artificial.