AEGIS London partners with Kayna on data-led property cover in US
Lloyd’s insurer AEGIS London has partnered with insurtech Kayna to offer data-led insurance coverage from its online quote and bind platform Opal underwriting in the US.
The partnership will explore developing property insurance options for US borrowers. It will enable surplus lines brokers to offer real-time property cover options to meet the mandatory insurance requirements of commercial loan applicants.
AEGIS London currently writes in excess of $120 million of premium through Opal per year, much of this for certain types of insurance typically required for borrowers to have in place by commercial lenders.
Paul Prendergast, chief executive officer of Kanya, said: “We are delighted to be working with AEGIS London – managing agent of a top quartile syndicate at Lloyd’s, both by size and performance. Their specialist market expertise combined with our Kayna tech and data capability has identified a potential and compelling embedded insurance opportunity for commercial loan platforms. Adoption within the loan process workflow could improve loan processing time and add value to applicants’ experience. I’m excited by the immense potential for this unique solution in the US.”
Calum Williams, digital development manager, Aegis, commented: “Our proposed collaboration with Kayna represents a new and innovative opportunity to expand our specialist product portfolio. We immediately recognised the potential to benefit the entire value-chain with commercial property insurance solutions that utilise loan platform data to generate cover options specific to client needs through authorised surplus lines brokers. In this, we are proudly preserving our AEGIS London core values of striving to do better with fairness and respect.”
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