Aspen Insurance has increased its electronic footprint to simplify the business it does at Lloyd’s.

The company said that to foster collaboration, save time and increase the ease of doing business, it has implemented the e-placing platform Whitespace.

The software enables brokers and underwriters to digitally offer, negotiate, place and bind insurance and reinsurance contracts with each other.

The company said: “This move further reinforces Lloyd’s importance as a platform for Aspen and aligns with the expected footprint of 90 per cent of our risks being addressed through electronic vehicles.”

Whitespace Software Ltd is a London-based technology company that leverages leading-edge technologies to deliver digital experiences with robust, enterprise security.

Their product, Whitespace Platform, has been granted “fully recognised” status by Lloyd’s.

Aspen’s active underwriter of Syndicate 4711, Sarah Stanford, said: “Using the Whitespace Platform will play an important role as we continue to collaborate with our business partners to grow our overall Lloyd’s stamp.

“With the push towards electronic risk placing, we are excited to adopt a system that is not only transparent and trackable, but is streamlined, secure and still supports those critical, face-to-face negotiations.

“Most importantly, being able to provide clarity from complex risks digitally makes doing business more efficiently, freeing up our time to better serve our clients with value-added solutions.”