Whitespace Software Ltd
Whitespace was established in 1985 as a software development company specialising in the insurance market. With over 30 years of experience providing carefully designed IT solutions and platforms to our customers in the insurance and reinsurance markets we are in an excellent position to understand our customers, their processes, their challenges and their needs.
We have developed systems that we continue to support proactively for Members’ Agents, Delegated Authority Brokers and Claims Managers. However, the entire global financial services industry is striving to be more efficient. One obvious way to do this is by digitising and streamlining processes end to end. The insurance market is a prime candidate; moving risks through the distribution chain is expensive and burdened by inefficiencies.
Digitisation promises huge benefits to all parties. In 2016, anticipating this desire for efficiency, Whitespace embarked on a project to introduce fully digital insurance contract placing into the Lloyd’s of London market. An incumbent system has been trying to do the same thing for years but has struggled to win the hearts and minds of market practitioners. By using new technologies, specifically NoSQL databases and iPads / iPhones, Whitespace has established itself as a strong competitor. The Whitespace Platform launched in August 2019 and has proved extraordinarily popular and successful.
In March 2021, Verisk Specialty Business Solutions (formerly known as Sequel), acquired a majority investment in Whitespace. The partnership with Verisk brings an increased set of opportunities for us as an organisation and for our customers. We are excited to be able to fast forward the digital ambition that both Verisk and Whitespace customers desire, and this will see us achieve our seven year ambition in three.