RuleBook launched into the Asian market at EAIC

The launch of Moore Stephens Consulting’s RuleBook tool in Asia will transform pricing, underwriting and distribution for Asian players, Paul Latarche, partner and head of insurance at Moore Stephens, told EAIC Today.

“It helps them move from spreadsheets into a strategic platform giving them better control over pricing, exactly how they get to a price and then how to distribute that much more effectively than they are currently doing,” he said.

RuleBook is the market-leading rating, underwriting and distribution platform trusted by some of the market’s leading insurers and brokers. Its combination of a powerful ‘rules engine’ and underwriting desktop caters for the most complex specialty lines, he added.

Moore Stephens Consulting and NTT Data UK have concluded an agreement to provide its comprehensive international service set to underwriters and brokers in the London and global insurance markets. Moore Stephens Consulting used its presence at the EAIC to formally launch RuleBook into the Asian markets.

NTT Data is a leading IT services provider and global innovation partner headquartered in Tokyo, with business operations in over 40 countries. This will enable Moore Stephens Consulting to implement, roll out geographically and support clients on a global basis.

Initial work will see NTT Data UK partner with Moore Stephens Consulting to provide RuleBook configuration and testing and deliver cloud monitoring and support services to a number of clients, underpinning RuleBook’s growth as a global platform linking underwriters and brokers.

“Off the back of RuleBook we have created the RuleBook Hub,” continued Latarche. “The principle is that carriers will load the rating, rules and what triggers referrals into the Asian hub, and then coverholders or brokers who want to access that product fire in data to return whether they can write it and what the price will be.

“Traditionally people will build a portal for every single person they want to transact business with, which takes time. The way this works is you load your products securely on to the platform and anyone you want to transact business with can access it.

“It allows this market to get much more closely aligned to the retail network and coverholders than they currently are.”