Beazley backs technology to cut insurance transaction costs

Posted On: Jul. 25, 2019 5:21 AM CST

U.K.-based insurer Beazley P.L.C. said that its Lloyd's syndicate 5623 is using technology and third-party capital to reduce costs of insurance and reinsurance transactions, Artemis.bm reports. Beazley said that insurance brokers continue to charge full commissions for the syndicate's business and called on them to offer low cost intermediations.