Lloyd's broker AFL bolsters insurtech startup-focused unit

Lloyd's broker AFL has hired George Stagg to lead its incubator division as associate director, innovation.

Stagg joins AFL Insurance Brokers from RK Harrison, where he was most recently a terrorism political violence and war broker. Stagg has experience in developing and launching new products, and proactively participates in various London market innovation groups.

The AFL Incubator actively supports and accelerates insurtech and general technology start-ups by providing them with a launch platform and access to expertise and insights, market intelligence, regulation and governance, business development, and marketing and brand-building.

AFL CEO Bob Finch said: "Without the insurance building blocks in their business, many tech start-ups exploring innovative new models wouldn’t be able to take those first steps. Being the partner of choice for these companies is fundamental to AFL – we are committed to supporting entrepreneurs and innovators, and, wherever possible, integrating new processes into our own business.

"We are now seeing a steady stream of Insurtech and general technology enquiries looking to work with us. Businesses and initiatives selected for acceleration in the AFL Incubator will also be offered flexible work space alongside our dynamic team."

AFL chairman Toby Esser commented: "His proactive involvement in the AFL Incubator will provide George with every opportunity to utilise his skill set in a forward-thinking and highly dynamic role. From electronic processing across product classes to insuring new risks, we are absolutely committed to driving change in the re/insurance industry. We lead by example and support the latest and best ideas that will disrupt the traditional business model in favour of more agile, proactive ways of working."

Stagg added: "The industry as we know it is set to fundamentally change. The AFL Incubator is ahead of the curve and is attracting cutting-edge ideas, and I look forward to working with the AFL team and our technology partners to expedite successful development and launch of new concepts."

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