The platform is designed to offer a cohesive and secure environment for brokers, underwriters, and managing general agents. Credit: Panchenko Vladimir/Shutterstock.

Insurance technology company Verisk has announced the US expansion of its all-in-one reinsurance platform, Whitespace.  

The platform, which is available in the London market, is now accessible to US-based brokers, wholesalers, carriers, and risks, across varying classes of business and regions.  

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Verisk noted that in London, Whitespace facilitated the writing of nearly 170,000 lines in 2024, a more than threefold increase from 2022.  

The platform is designed to offer a cohesive and secure environment for brokers, underwriters, and managing general agents to offer, negotiate, and place business across various classes and regions. 

Verisk’s Whitespace brings together the global excess and surplus and specialty insurance markets.  

It also seeks to address industry challenges by replacing slow, fragmented, and error-prone processes with a digital, efficient system.  

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Users can create and collaborate on risk submissions, request contracts and quotes, and bind business virtually, all within the platform.  

This shift away from legacy processes and manual workflows allow for a focus on value-added broking and underwriting tasks, Verisk noted.  

Whitespace’s application programming interfaces approach supports digital distribution strategies, allowing for business negotiation using custom templates.  

It integrates with users’ policy administration and agency management systems, offering two-way integration for data flow and actions such as automated pricing and binding term agreements. 

Leveraging Verisk’s expertise in predictive analytics, Whitespace enables users to leverage structured data for KPI measurement, risk assessment, and data augmentation processes.  

Furthermore, the platform provides an audit trail and a digital data repository. 

Real-time communication among stakeholders is facilitated through encrypted messaging and video calls. 

In separate news, Verisk Specialty Business Solutions recently introduced an offshore renewable energy module within its Sequel Impact system, further enhancing insurers’ risk assessment and management capabilities.