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Liberty to launch online trade credit platform
Written by staff reporter
Liberty Specialty Markets has announced plans to launch a web-based platform for transacting specialised trade credit insurance for banks, corporates and commodity traders.
The new LSM platform, Toredo, is designed to allow underwriters, brokers and clients to buy and sell insurance capacity with greater speed, visibility and efficiency. Beyond operating the platform, LSM will provide capacity to Toredo. Other capacity will come from an as yet unannounced consortium.
Head of LSM’s Global Financial Risks team, Peter Sprent, said: “Our aim in launching Toredo is to improve customer experience by making the purchase of single situation trade credit simpler, faster and more cost-effective.
“Toredo will provide real efficiency savings by giving brokers and clients greater visibility over underwriter risk appetite, capacity and pricing as well as closing transactions with much greater speed.”