Introducing the Sequel6 and Sequel Hub

Sequel's Chief Experience Officer, Tim Rayner provides a short introduction to the Sequel6 and the Sequel Hub as part of the ACORD CONNECT Marketing Initiatives session.

What is the Sequel Hub?

The Sequel Hub is based on the Rulebook Hub (Sequel acquired in 2018), which is a market leading API hub for distributing insurance policies and applications on a global scale. 

Since the acquisition, Sequel has augmented the Rulebook Hub with additional services, on a elected basis, to cover aspects such as submission, triage and routing. Two of those elective services included in the Sequel Hub, from ACORD Solution Group (ASG), are the transformation and conversion services. They form a key part of the overall architecture and offering to our client base, as well as ACORD members, globally.

How does this tie in with the Sequel6?

The founding Sequel6 members are a group of market-leading underwriters – Markel, Beazley, Hiscox, Chaucer, Brit and Liberty Specialty Markets – which came together during 2020 to help develop a more efficient way of doing business in the London Market. The first initiative that the group identified as a gap in the global insurance transaction space was the need for API standards. Those API standards have been collaborated on across the group and gifted to ACORD earlier in 2020.

This forms one of the key basis' of the Sequel Hub and how it will become useful and appealing to a much broader base.

The Sequel Hub is at the core of everything we will be doing with the Sequel6, from standalone product distribution through to delegated authority business.

In the essence of the stand alone product distribution, the group have collaborated on a standard question set for a particular class of business and the intention, through the Sequel Hub with the ASG components, is to look at providing individual competitive quotes from a Sequel6 member firm basis. 

At the other end of the initiative, in the delegated authority world, it's likely that the collaboration will turn into a cooperation in terms of the sharing of risk. The proposal through the Sequel Hub, working with the Sequel6, is to provide real time insight and management of the delegated authority risk. This is a huge step up from today's world where the London Market is working on bordereaux data which is usually 90-120 days out of date.