Specialist insurance company Beazley has unveiled a new digital business unit to transform its approach to develop, underwrite, and deliver digital insurance solutions.

The company said its existing digital initiatives and platform will now be spearhded by a multi-disciplinary team that would be led by the company’s COO Ian Fantozzi.

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The digital platform will create a central hub by bringing together all the online trading portals delivering distinct service areas and responsible for developing new underwriting and risk management solutions

The company said this central hub will enable clients to access products and services more easily.

Fantozzi said: “Beazley’s digital business unit represents a natural progression for Beazley that will enable us to leverage digital technology to deliver enhanced value to brokers and clients alike – and to re-imagine the insurance relationship and value chain.

“By sharpening our focus and strengthening our digital strategy we’ll be quicker at building slick, end-to-end solutions that instil confidence in our business clients and brokers, freeing them from unnecessary risk to focus on what they do best and to thrive.”

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The company said that Fantozzi will remain as the company’s COO until a successor is named. He will continue to report to Beazley’s CEO Andrew Horton.

Horton said: “Demand for e-traded underwriting solutions has grown significantly over the past 12 months, accelerating our own digital transformation programme.

“We have reached a pivotal point in this journey where we want to sharpen our focus by building a multi-disciplinary team that brings together IT and underwriting excellence, dedicated to expanding and honing our digital distribution and e-trading strategy.

“Building a seamless and intuitive digital trading platform to deliver simple, well executed insurance policies is a must for us to maintain relevance and deliver outstanding value to our partners.”