Liberty Specialty Markets becomes first carrier to publicly commit to WTW's Neuron platform

By Aidan Gregory

March 11 - (The Insurer) - Liberty Specialty Markets (LSM) has become the first specialty carrier to publicly commit to adopting Neuron, WTW's nascent digital trading platform.

Neuron was launched by WTW in May 2023 in an effort to modernise the placement of specialty risks by digitising and automating transactions and data disclosure between brokers and underwriters.

A spokesperson for Neuron said that LSM is part of a group of "founding partners" working with Willis to establish Neuron as a platform. The specialty carrier is the first to publicly commit.

The spokesperson declined to comment on Neuron's fee structure and the identities of the other partners.

Neuron is one of several industry efforts to enhance digital trading. Lloyd's participants are increasingly exploring smart-follow and algorithmic approaches to underwriting to help them write more business with lower expenses.

“Our partnership with WTW gives brokers seamless access to our underwriting expertise," said Carol Baker, head of digital strategy at LSM, in a statement on Tuesday. "This initiative is a positive step towards a more connected market overall, strengthened as additional carriers and brokers join."