Case Study: Ptarmigan achieves a tailored cloud trading platform for cyber insurance with Insly

Ptarmigan’s new insurance trading platform launched

Ptarmigan Underwriting Agency, a Lloyd’s broker specializing in cyber and financial-institution insurance, needed a cloud-based trading platform that matched its specialist processes and multi-country distribution requirements. Facing complexity from varying documentation, endorsements, taxes and co-insurance arrangements across jurisdictions, Ptarmigan chose Insly to deliver a solution tailored to their business and underwriting needs.

Insly implemented a standard cloud platform extended with Ptarmigan-specific modules — including a semi-automatic premium calculator with underwriter override, premium matrix, underwriting and rating rule-sets, a dynamic endorsement database, multi-tax support, dynamic document generation for several countries, Lloyd’s bordereau handling and co-insurance risk splitting. The new Insly-based platform now handles underwriting, sales and administration for Ptarmigan’s cyber product, producing correct documents and automated quotes and policy schedules; the system launched as planned, is in full swing, and has significantly reduced manual complexity in multi-jurisdiction distribution.

Ptarmigan

Kevin Kettrick

Cyber Underwriter