Dialogue Exchange, a UK-based independent credit and political risk insurance platform, has created a set of free, open common standards for single credit risk insurance, as part of wider efforts to bring the market into the digital age. Launched today, the single risk credit data standard sets out unified terms for field names, counterparty industries and cover required for structured credit transactions across a number of deal types. The aim, Dialogue CEO Ben Heaney tells GTR, is to reduce ambiguity and duplication, so that industry stakeholders can easily exchange and use data for their own needs regardless of how it was created or collected. In an exclusive interview with GTR, Heaney says that this standardisation will enable a digital foundation for automatic underwriting and deal flow, ultimately paving the way for the full digitalisation of the industry. “When we launched Dialogue as an independent neutral marketplace that serves the whole global credit insurance industry, the first problem we came across was, what’s the data standard that’s going to underpin it? Everyone was using their own terms,” he says. “A broker or an underwriter would use a slightly different word to mean broadly the same thing. We recognised that we needed… continue reading
Continue reading Exclusive: Single credit risk insurance gets set of standards as Dialogue seeks to unify market. This article appeared first on CTRM Center.
Source: CTRM Center