Funk ‘fully backing’ GVNW’s digital risk placement platform

Leading German independent broker Funk is “fully backing” the GVNW’s new RD-X digital risk data exchange initiative, which the association will outline to members at this week’s symposium in Munich.

The RD-X initiative is supported by several large insurers and brokers. In a statement issued ahead of the GVNW event, Funk said that the participants are united by the desire to create a neutral solution that enables efficient data exchange in the industrial insurance market.

It is thought that after giving details of the platform to members at the event, the GVNW is planning to create a separate body to take forward the initiative.

GVNW CEO Stefan Rozenowski told Commercial Risk Europe that the association’s goal is to “kick-off” the foundation of a neutral, non-profit entity that serves all market participants equally.

“Funk supports the GVNW’s RD-X initiative to create a platform for digital risk data exchange. With this, Funk underlines its ambition to take an active role in shaping the future of the insurance market,” said the broker.

“The aim of the GVNW initiative is to make the exchange of risk data between customers, brokers and insurers more efficient and secure. The aim is to develop a platform that makes it possible to transmit risk data digitally and in a standardised manner. The focus is on increasing efficiency in the exchange of risk data between all market participants,” it said.

This effort will be welcomed by the GVNW membership, which has become increasingly frustrated with the outmoded, expensive and cumbersome system within the industrial insurance market.

“Higher digitalisation in the insurance market is necessary for customers, brokers and insurers. That’s why we support this initiative. It makes it possible to optimise processes and exchange data in a structured manner,” explained Dr Anja Funk-Münchmeyer, managing partner at Funk.

“As advisors to our customers, it is our aim to bring our expertise and knowledge into the process in order to achieve the best possible results for our customers,” she continued.

“In the interests of our customers, we are driving forward digitalisation in the industrial insurance market: various industry initiatives as well as company-owned developments also play a role in the area of risk recording. We would like to make our contribution to the RD-X right from the start,” added John Burmester, head of digital corporate development at Funk.