Aspen’s Commitment to Innovation

At Aspen, we are dedicated to fostering and recognizing innovation within our business while exploring new approaches to enhance our operations. Our Innovation Working Group plays a central role in these efforts, organizing an annual Innovation Investment Competition and hosting an internal Innovation Awards ceremony each year. 

The Innovation Investment Competition serves as a catalyst for innovation, offering winners financial backing and leadership support to bring their ideas to life. A notable success from this initiative is the construction wellbeing product, developed by our casualty and construction teams. This product, launched in partnership with BCarm, addresses the growing mental health challenges faced by employees in the U.K. construction industry. 

The Innovation Awards celebrate innovations already developed within Aspen. This year, for the first time, we honored an innovative partnership, recognizing our collaboration with Ki. Through this partnership, we leveraged the Ki digital platform via Aspen Digital to provide additional follow capacity.  

We also acknowledged the innovative market approach taken by our Environmental, Primary General Liability, and Architects & Engineers teams. They collaborated to create a singular product that fills a gap in the market. Named Project Trinity, these teams worked closely with operations and finance to develop a customer-oriented solution that specifically addresses three exposures (commercial general liability, architects & engineers and environmental impairment liability).  

In addition to these initiatives, we have also launched Aspen Data Labs, a hub for advancing AI and data-driven solutions that will be integrated into our business. We introduced Aspen Data Labs at our inaugural AI Data Summit, held in partnership with L Marks. The summit brought together external partners and internal experts to tackle challenges related to the claims or underwriting process. 

Jonathan Smith, International Head of Distribution & Innovation Lead, said “At Aspen, we are committed to staying at the forefront of innovation, continually seeking out new ideas that benefit our customers and enhance our efficiency as a business. We embrace creative ideas and solutions that emerge from Aspen’s talented staff across the business, and via a one Aspen approach these ideas turn into tangible solutions.”  

Find out more about Aspen’s commitment to innovation in our Sustainability Report.