Arch Insurance invests in UK insurtech MGA Archipelago Risk Services
Arch Insurance International has invested in Archipelago Risk Services (Archipelago), a personal lines managing general agency backed with underwriting capacity from Arch Insurance (UK).
Archipelago, which underwrites only intermediated business, is a new insurtech personal lines insurer founded by former Aon executives Angus Simpson, who will serve as CEO, and Richard Coleman.
Archipelago will distribute its products in the UK covering home, motor, travel, pet and residential investment property through wealth managers and selected specialised personal lines brokers.
The Archipelago platform is a trading system developed to transform the business of personal lines by helping distribution partners grow and manage their client accounts by automating much of the customer journey and reducing the burden and cost of administration and compliance.
Hugh Sturgess, CEO of Arch Insurance International, said: “Our investment in Archipelago allows us to offer an innovative and differentiated way to serve mid- to high-net-worth individuals in the UK. Archipelago is the newest part of our overall UK growth strategy.”
Simpson commented: “We founded Archipelago from our desire to improve personal lines for everyone involved. In creating our new platform, we re-examined every part of the business model and, crucially, the service to our distribution partners and their clients.”
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