Charles Taylor InsureTech’s digital governance solution, Authority Hub, has now gone live.

Authority Hub digitises the authority management process, enabling insurers to create, submit, review and agree authorities reliably, consistently and accurately, while maintaining real-time visibility through a single web-based management platform.

This intelligent solution automates any processes and simplifies workflows, reducing the potential for errors and breaches. Authority Hub’s automation and logic-based rules enable insurers to rapidly define, compile and delegate authority limits and manage sophisticated delegating hierarchies. Authority letters can be generated automatically from a central source of clauses and updated in bulk, ensuring authorities are always consistent and up to date.

Tailored dashboards for delegators, administrators and authority holders ensure all parties share a common understanding of their obligations. The platform also integrates with HR systems and enables collaboration and sharing, bringing new levels of accessibility to authority management. Compliance and evidencing authority issuance and acceptance is facilitated through the tool’s full reporting, process management and audit history.

“Complying with ever-evolving regulations remains one of the biggest challenges for insurers. Authority Hub not only helps insurers avoid potentially costly fines for conduct breaches but also transforms their business by bringing improved visibility for better decision making and reducing the time, cost and risks involved in managing authorities,” commented Joanne Butler, head of product marketing at Charles Taylor.

“Relying on spreadsheets, Word documents and inefficient manual processes leaves insurers vulnerable and unable to maximise business opportunities. Authority Hub provides a single source of truth that brings both peace of mind for all parties while also enabling the insurer to efficiently redeploy capacity not currently being used.”

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