Whitespace adds new services to platform

Whitespace, the fully digital e-trading platform and a Verisk business has launched new library and contract builder capabilities. The company said that the enhancements help clients in the global re/insurance market save time and minimise the risk of human error.

The new functionality introduces major evolutions to Whitespace’s user interface and allows designated users to create and manage a library of company specific data-first contract clauses, wording and headings with standardised tagging and formatting. Existing Whitespace data-first templates and contracts can also be added to the library.

Library items are incorporated into a contract using a multi-select and drag-and-drop interface to maximise efficiency. An easy-to-use defined data view quickly and accurately populates key contract data, such as policy holder details and dates, the company said.

Marcus Broome, chief platform officer of Verisk Whitespace, commented: “This is an exciting addition to the Whitespace Platform functionality that is often requested for digital trading, and we’re delighted to be leading the way. This new functionality offers a streamlined, protected and highly efficient contract building management system with the seamless customer experience that users have come to expect from Whitespace. Our goal was to remove copy and paste from the equation for text-heavy documents, ensuring things like formatting, tagging of data and indentation are respected, saving our users time and reducing the risk of unintended errors.”

The update will be automatically available to all existing Whitespace platform users over a series of releases that are planned through the remainder of 2024.

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