Global insurance and reinsurance broker Howden has unveiled Howden Auto Tracker, an innovative automated follow-form facility designed to enhance efficiency for brokers and clients alike. This cutting-edge solution merges tracker capacity with connected algorithmic capacity, providing brokers direct access to both from a unified data source.
Howden emphasizes that this market-first initiative is a testament to its dedication to delivering client value through technological advancements. The Tracker enhances operational efficiency by linking carriers and ensuring automatic capacity within predefined parameters, while also enabling additional insurers to seamlessly integrate into the platform. This proves particularly advantageous for wholesale business, where transactions can be finalized in mere minutes.
Sarah Hughes, CEO of Howden Specialty, remarked, “Howden is at the forefront of technological innovation. The Howden Auto Tracker empowers us to swiftly and effectively meet client demands, offering competitive terms and rapid quote turnaround, while facilitating the binding of larger business lines than ever before.”
Currently offering up to 25% capacity across client portfolios, Howden Auto Tracker aspires to secure 100% digital capacity behind selected lead markets by 2026. The platform will also support tacit renewals.
The Howden Auto Tracker builds on Howden’s auto-follow strategy by leveraging Ki‘s robust algorithmic digital follow technology and platform. Launched in 2021 under the Fairfax Group and backed by Blackstone, Ki represents advanced algorithmic digital follow technology.
The Tracker will be spearheaded by QBE and supported by a consortium of insurers to ensure reliability and expertise. Paul Towler, Chief Broking Officer of Howden Specialty, stated, “Facilities are revolutionizing the London Market, and having superior technology is crucial to being future-ready with growth potential. Howden Auto Tracker delivers speed, efficiency, and seamless alignment with our strategic partners, enabling rapid capacity acquisition via a single source, thereby allowing our brokers to concentrate on securing optimal lead terms. Clients benefit from the speed and certainty in obtaining quotes, with more capacity available behind the most competitive lead markets.”
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