PRESS RELEASE: Insurtech Dialogue expands strategic technology partnership with Codibly
Independent CPRI platform Dialogue and technology specialist Codibly on a mission to support a fully digitised commercial specialty insurance market
London, 11 August, 2020: Independent Credit and Political Risk Insurance (CPRI) platform Dialogue Exchange Global Limited (Dialogue) is delighted to announce that it has expanded its relationship with coding specialist Codibly to form a strategic technology partnership.
Dialogue - which was recently selected to join insurtech accelerator Lloyd’s Lab - has deepened its partnership with Krakow-headquartered technology consultancy Codibly to support a fully digitised insurance marketplace.
Codibly is focused on harnessing cutting-edge technology, talent, and innovation to transform businesses into data rich digitised, efficient and sustainable enterprises.
With Codibly as a technology partner, in December 2019, Dialogue developed the innovative Box Hours solution to help arrange physical meetings between brokers and underwriters at Lloyd's.
The take-up was phenomenal - 95% of CPRI brokers registered themselves within four weeks of launch. Dialogue’s next phase will be to launch a comprehensive online platform enabling brokers and underwriters to create, submit, negotiate, and place complex CPRI transactions.
The expansion of the strategic partnership has seen cross-investment between Dialogue and Codibly and a common vision to expand the Dialogue architecture within the specialty insurance technology ecosystem.
Dialogue Founder and CEO Ben Heaney said: “Dialogue started its cooperation with Codibly as an outsourcing relationship, building out our core technology and coding architecture, but it quickly became clear there were further synergies and a shared mindset between us.
After securing an additional funding round in May 2020 and being accepted onto the Lloyd’s Lab insurtech acceleration programme (July 2020), this strengthened strategic technology partnership is the next step in Dialogue’s mission to develop a game-changing, independent technology infrastructure for the specialty insurance market.
We’re delighted to be working more closely with the innovative and talented team at Codibly to tailor our solutions to the current needs and challenges of the insurance industry. Watch this space!”
Bart Majewski, CEO of Codibly, said: “Using our experience from adjacent sectors such as Renewable Energy, which processes complex multi party transactions, we are excited to be more aligned with Dialogue and to build on our existing insight and expertise in the re/insurance sector to help accelerate the digital transformation of this market.
From this aligned, and experienced standpoint, our mission is to make technology innovation a business driver for brokers and underwriters, offering end-to-end streamlining of negotiations and transactions and bringing valuable data insights to the process. Our vision is to help create an open architecture that works for Dialogue, its partners, and the marketplace as a whole.”
Notes to editors
Dialogue is a single, secure, independent platform for sending, receiving, negotiating and responding to enquiries in the CPRI market. Dialogue has also created Box Hours, an innovative solution to promote the most efficient use of face-to face box hours in the underwriting room.
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