Lloyd’s has introduced its Bridge digital distribution platform to Australia, under a pilot that also includes New Zealand and the UK.

The electronic platform aims to match insurance businesses with underwriters from the Lloyd’s market in a more efficient and cost-effective way.

“Lloyd’s already has a significant coverholder network in Australia, with more than 130 established businesses,” Country Manager Chris Mackinnon said.

“Coverholder distribution is a cornerstone of our Australian business, so we are delighted Australia is included in the pilot program.”

Lloyd’s plans to expand the platform globally next year.

Bridge is one of many digital initiatives at Lloyd’s, which is pursuing a modernisation program to cut costs and stay competitive.

“As we continue to grow and expand our international business we are committed to enhancing the service and access we provide to our customers’ changing needs,” Chief Commercial Officer Vincent Vandendael said. 

“By providing coverholders with quick and easy access to our market, Lloyd’s Bridge will transform how we do business.”