Willis, a WTW business, has announced the launch of a new specialty bloodstock insurance solution in partnership with Equine MediRecord, an equine digital health software company.
Equine MediRecord, a vertical SaaS platform in equine digital health software and part of Canada-based Inova Group’s Business Infusion, is utilised by some of the top horse organisations in the world and by equine regulators in Ireland, United Kingdom, France, United States and Saudi Arabia.
Equine MediRecord is the sole regulator-approved digital medicines register in the UK, streamlining compliance with animal welfare and anti-doping regulations.
The subscription-based platform is the first software system to be approved by any equine regulatory body to meet universally stringent reporting requirements.
Markel, the insurance arm of Markel Group Inc., will utilise Willis’ own low-code technology platform to distribute a bloodstock mortality and theft product embedded within the Equine MediRecord platform.
Powered by Kayna’s data-orchestration capabilities, this embedded product will initially provide data-led insurance solutions to Equine MediRecord’s UK clients.
This client base encompasses a wide range, from large stud farms to individual horse owners within the multi-billion euro industry.
Anthony Borgman, Head of GB Affinity, Willis, commented: “We are delighted to launch the first fully embedded bloodstock solution making insurance easy to access and quick to arrange.
“Our partnership with Equine MediRecord, a leading international vertical SaaS provider of equine health and associated regulatory compliance platform services for racehorses, and Markel for their specialty product expertise, has enabled us to establish such an innovative solution for bloodstock clients.”
He concluded: “Today’s announcement demonstrates how insurance is quickly becoming a strategic proposition for vertical SaaS platforms. Embedding insurance serves to offer customers improved and more convenient experiences, which in turn can enhance customer loyalty with the brands they trust”.
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