Company News
Former Lloyd’s Head of Digital Claims Joins Voult as Managing Director to Lead Insurance Industry Transformation
LONDON — Voult, an innovator in the insurance sector, announces the appointment of Richard Boyd as Managing Director. Boyd, formerly Head of Digital Claims at Lloyd’s of London, brings extensive leadership experience and a track record of driving industry innovation. His appointment signals Voult’s ambitious plans to modernize the insurance value chain and expand its presence in global markets.
Boyd’s leadership will guide Voult’s mission to address long-standing inefficiencies in insurance processes, particularly in the Delegated Authority (DA) space. While Voult is already revolutionizing claims bordereaux (BDX) processing with AI-powered validation and automation, the platform’s broader vision includes delivering a comprehensive DA solution by Q1 2025 and supporting end-to-end insurance workflows.
“The insurance industry is at a critical inflection point,” said Boyd. “At Voult, we’re not just building better tools—we’re fundamentally reimagining how insurance business will be conducted in the digital age. Our immediate roadmap includes both FCP and non-FCP claims BDX, but our vision extends far beyond that to support the entire Delegated Authority value chain. I’m excited to lead this transformative journey and help expand Voult’s reach into new markets, including North America.”
Transforming Insurance: Voult’s Vision for the Future
Voult is setting new standards for the insurance industry, combining AI and automation to solve persistent challenges. Current solutions focus on eliminating inefficiencies like delayed bordereaux submissions and manual data reconciliation. However, Voult’s broader ambition is to deliver seamless, transparent processes across the entire insurance ecosystem.
By Q1 2025, Voult plans to roll out an all-encompassing DA platform designed to simplify capturing, validating, and submitting bordereaux data into Velonetic. The company is also leveraging AI to identify errors faster, reduce cash flow delays, and enhance operational visibility for syndicates, brokers, and Delegated Claims Authorities (DCAs). Pilots are already underway, with the first syndicate announcement expected in early 2025.
“Richard’s appointment marks an exciting chapter for Voult,” said Ranjit Bahia, CEO of Cyferd, the technology that powers Voult. “His deep understanding of insurance challenges and his vision for transforming the industry align perfectly with our goal to drive meaningful change. Together, we’re redefining how insurance operates, not just within Lloyd’s but across global markets.”
About Voult
Voult is a cutting-edge platform revolutionizing the insurance industry. Powered by Cyferd’s modern cloud technology, Voult automates and streamlines traditionally manual processes, from bordereaux validation to financial reconciliation.
Focused on transforming the Delegated Authority value chain, Voult eliminates inefficiencies, enhances transparency, and accelerates cash flow for stakeholders across syndicates, brokers, and DCAs. With AI-driven automation and real-time insights, Voult is modernizing insurance operations, enabling faster decision-making and elevating service levels for policyholders.
As Voult expands beyond Lloyd’s into global markets like North America, it aims to reimagine the future of insurance with innovative solutions that deliver unparalleled speed, accuracy, and scalability.
Discover more about Voult at www.voult.com