Insurtech OnRisk partners with MGA startup on P&C structuring platform
London-based managing general agent (MGA) startup Agile Risk Partners and US-based insurtech OnRisk are collaborating to develop an advanced, CAD-style platform for underwriting, structuring and distributing high-value P&C risk.
Under a strategic insurtech partnership, Agile will become an early adopter of OnRisk’s platform and will use it to structure its direct & facultative (D&F) property deals.
“To structure high-value deals in a fast-paced trading environment, we’ll need speed, precision and flexibility that exceed the capabilities of mud maps and spreadsheets,” said Agile’s director of underwriting Richard Foster. “We look forward to the deployment of a CAD platform that can efficiently transact the most complex property risk transfers in the London market.”
OnRisk CEO Frank Sweeney added: “Agile and OnRisk share a belief that the high-value risk market has benefited greatly from capital innovation, but remains technology-constrained and lower priority for insurtech investment. This collaboration will enable us to inject advanced technology directly into core high-value risk structuring processes.”
James Poole, Agile’s managing director, said: “We think these precise, visual structuring tools are potentially foundational for accelerating innovation in the high-value risk space. We are eager to push the technology envelope to the benefit of our buyers and capacity providers.”
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