Beazley’s flagship data breach response product has become the first client on Moore Stephens' RuleBook Hub

Press Release: London, 30 May 2017

Beazley Group’s latest Cyber product has become the first live insurance product on Moore Stephens Consulting’s (MSC) RuleBook Hub.

RuleBook Hub is based upon MSC’s successful RuleBook e-trading solution which has over 1900 users across the London Market with 77 product lines covering all specialty insurance classes. 25% of Lloyd’s syndicates use RuleBook. The RuleBook Hub allows underwriters and brokers to access web based networks and distribution channels to obtain quotes in minutes for many of the market’s specialist insurance products and then bind immediately upon acceptance with the provision of full documentation at point of sale.

Paul Willoughby, Head of IT strategy, architecture and innovation at Beazley Group, said: “The proprietary MyBeazley online quoting platform built with RuleBook has already been a major success for Beazley. The RuleBook Hub will allow us to quickly and efficiently distribute omni-channel products to additional online broker networks."

He added that MyBeazley was “designed to ensure a consistent pricing approach across all sectors. This improved our portfolio analysis capabilities, reduced data input requirements, strengthened regulatory compliance, and enhanced overall underwriting speed and performance which benefit’s our brokers and clients. The multiple operational benefits generated significantly reduced average workflow completion times and at the same time enhanced our underwriters ability to analyse the pricing and underwriting data at a much more granular level.”

Moore Stephens Consulting is part of the international accountants and advisers Moore Stephens who have in excess of 10,000 staff in offices worldwide.

David Sweet, Partner at Moore Stephens, added: “We are delighted that leading Lloyd’s insurer Beazley are our first client to go live on the RuleBook Hub. They have fully engaged on RuleBook itself to successfully deliver The Hub gives Beazley access to a wide range of broker distribution channels. Both parties are fully committed to a long term partnership ensuring the success of and RuleBook Hub.”