Liberty Specialty Markets launches CAR digital trading solution in collaboration with Howden


Authored by Liberty Specialty Markets

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has announced the launch of a new Contractors All Risks (CAR) digital trading solution built in collaboration with Howden. This joins the existing CAR digital trading solutions built separately; one with WTW and one with another leading broker, meaning LSM London’s CAR book is now supported by digital capabilities across its key broking partners.

The integrated digital trading solutions automate the quote and binding process for construction projects. This significantly reduces the number of manual touchpoints in the quotation of small-scale UK business. It speeds up the underwriting process, providing clients with quotes and policy documents quickly and efficiently.

The digital portfolio collates information via internal reporting capabilities, providing underwriting teams with better-quality risk information and allowing for more informed data-driven portfolio-level decisions. Leveraging LSM’s solution components and rating, the three broking platforms are a commitment to creating a digital trading solution that will add value for all stakeholders. The platform with Howden launched in May 2024, WTW was launched in 2023.

Christopher Jones, Underwriting Manager, Construction and Casualty, LSM said: “We are proud to be at the forefront of the movement to digitalise the construction market through the launch of these platforms. Our relationships with our broker partners are crucial to our growth plans and the platforms mark a significant step towards achieving our digital trading ambition. The platforms are a great demonstration of both the partnership between the underwriting, digital and actuarial teams, and excellent collaboration across the market, working to deliver the best value for our clients and business.”

Andrew Birt, Executive Director and Head of UK Projects, Construction & Infrastructure Assets, Howden, commented: “Adaptability is crucial for success in today's ever-changing market. Howden and Liberty have developed a digital trading platform, constructed through cross-market collaboration, harnessing the collective expertise of brokers, underwriters, legal and IT specialists, and project management teams. This innovative system will support and strengthen the longstanding trading partnership between Howden and Liberty, enable us to deliver competitive and efficient solutions for our clients, whilst also capturing real-time management information that can help us evolve and improve the platform.”

Lou Smith, Global Lead, Neuron, WTW, commented: “We first launched Neuron, WTW’s digital commercial trading solution, over 12 months ago in collaboration with LSM. By combining our expertise and leveraging digital capabilities, we are transforming how brokers and underwriters connect and trade. This collaborative effort signifies our commitment to advancing the industry through cutting-edge technology, providing valuable insights and significant operational efficiencies with improved speed and cost of doing business for the benefit of insurers and clients."


About Liberty

Liberty Specialty Markets offers specialty and commercial insurance and reinsurance products across key UK, European, Middle East, US and other international locations.

We provide brokers and insureds with a broad range of products through both the Company and Lloyd’s markets and have over 1,700 staff in approximately 65 offices. Liberty Specialty Markets was established in September 2013 bringing together Liberty’s company, syndicate and reinsurance operations into one combined operation, composed of three business units: Commercial, Specialty, and Reinsurance (Liberty Mutual Re). This integrated approach means brokers and clients can benefit from our global reach and operating efficiencies.

Liberty Specialty Markets is part of global insurer, Liberty Mutual Insurance Group, a diversified global insurer, formed in 1912 and headquartered in Boston, Massachusetts. Liberty Mutual is the 5th largest global insurer based on 2017 gross written premium, with over 50,000 employees in 30 countries and economies around the world. Our purpose is to help people embrace today and confidently pursue tomorrow. The promise we make to our customers throughout the world is to provide protection for the unexpected, delivered with care.  We achieve this by offering a full range of personal, commercial, and specialty Property & Casualty insurance coverages. Our customers’ trust has earned us the 68th spot on the Fortune 100 list of largest corporations in the U.S., based on 2017 revenue.

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