POP partners with AI insurtech Fractal on M&A insurance offering

Australia-based specialist insurer POP Insurance Holdings and its MGA subsidiary Fusion Specialty Insurance have partnered with Fractal Industries, an artificial intelligence (AI) and insurtech software provider.

The partnership will enable Fusion to use Fractal’s proprietary, data-driven decision support platform for its M&A insurance business and other specialty insurance products.

“Technology-enabled insurance is engrained in Fusion’s vision, culture and business model. We are therefore excited to partner with Fractal, which will enable us to apply technology, data analytics and automated decision making to enable Fusion’s M&A Insurance product; and ultimately to differentiate in how we design, distribute, underwrite and fulfill other specialist products,” said Killian McDermott, POP and Fusion’s co-founder and executive partner.

David Rogers, POP and Fusion’s head of M&A, added: “We are delighted to join forces with Fractal to enhance Fusion’s M&A Insurance product, and in particular the development of the SME segment. We also have an opportunity to work with our ecosystem partners to deliver greater efficiencies for the existing middle market M&A product across its processes and distribution channels.

"We intend to achieve a good balance between the expertise of our people and the application of innovative technologies, in order to deliver a better M&A Insurance experience for our Clients, and to support the growth of the overall market.”

Alastair Speare-Cole, president & GM, insurance, at Fractal Industries, said: “POP’s Fusion M&A is further evidence of increasing specialization in the insurance markets, enabled by technological advances such as Fractal’s Advanced Insurance Decision Platform.

"Our strategic partnership further demonstrates the versatility of the Fractal AIDP to support multiple perils and identify, correlate, model, manage, and transfer risk. AIDP is a state-of-the-art tool that drives optimization across the entire insurance industry, providing dynamic contract evaluation, risk and value addition modeling, true risk transfer costs, and insight into impacts on regulatory capital.”