The system, developed by the Casualty team and later expanding into the Property classes, was launched in Canada in June. The initial launch has proved the simple system's ability to deliver significant benefits to wholesale brokers and to MSIG, and holds the very real potential to bring significant new revenue to the London market. The offering is already being expanded into Canada and further launches are planned in the UK and Australia.

They have struggled to gain access to standard and niche business which falls below certain premium thresholds, because the cost of placing such business through conventional underwriting channels has proved prohibitive. Consequently, such risks have remained beyond the reach of wholesale brokers, and have been dominated by accessible but more limited local markets. The convergence of these issues, and the considerable risk it poses to intermediaries, prompted Andrew to develop a solution. MS-sign applies technology in an innovative way to remove the barriers to obtaining distant, smaller-ticket business to give London brokers easy and efficient access by leveraging the power of the internet.

The system reduces intermediaries' workload, slashing process costs dramatically. In so doing it opens up a new tier of standard and niche business, and therefore a new revenue stream. By removing time-consuming complexity, MS-sign not only creates a new, efficient access route to risks that have been largely unobtainable, it also provides the ability to transact them in volumes. Manual underwriting processes are largely removed, because customer decisions and transactions are made online, within pre-agreed underwriting criteria.

Its cutting-edge e-trading capability caters for all key Lloyd's non-marine classes of business, and product build is fast and low-cost. It accounts for various regulatory requirements through embedded processes which meet most compliance and tax demands. Further, it can be customised to carry each brokers' own branding. Finally, MSIG provides a dedicated support manager to work alongside intermediaries during implementation, and enters a genuine partnership with each broker that implements the system.

The development is underpinned by MSIG's commitment to developing and maintaining close working partnerships with wholesale brokers, and its willingness to innovate and invest in technology.

Andrew Dougall, Head of Underwriting Property and Casualty, said:

We are honoured that MS-sign has been named Underwriting Initiative of the Year at the prestigious Insurance Insider Honours 2015. The insurance market is evolving rapidly and our strategy with the MS-sign platform is to partner with wholesale brokers at a time when their livelihood is under threat. While the development of MS-sign has involved the innovative use of technology, it also reflects the long-term strategy and enduring relationships that are central to MSIG's philosophy as part of our Japanese heritage. This is an excellent result and I am delighted that MSIG has received this recognition from such an esteemed panel of judges.

Underwriting Initiative of the Year 2015

MSIG at Lloyd's, triumphed at the 2015 Insurance Insider Honours Awards, with its e-trading initiative MS-sign being named Underwriting Initiative of the Year 2015.
The ceremony, which was attended by many leading figures from the London and European (re)insurance markets, paid tribute to the industry's best companies and brightest individuals. MSIG took the prize following a rigorous judging process. Judges were particularly impressed with MSIG's vision and commitment to investing in the creation of a system which has the potential to bring revenue into London that the market has not been able to access before.

For any queries about
E-Business or MS-sign,
please contact:

Katie Wolff

E-Business Manager
(+44) 20 7977 8334
I joined MSIG in 2015 to head E-Business, alongside the launch of MS-sign earlier this year. With 15 years’ experience in the London market, most recently as Director of E-Underwriting at Arthur J Gallagher, I am responsible for developing and implementing MSIG’s online trading strategy.