New capacity marketplace for insurance programmes launched
London-based Capacity Place, a digital marketplace for the insurance programmes market, has launched.
The "first-of-its-kind" marketplace aims to make it easier for insurance professionals to find relevant trading partners for their insurance programmes.
Capacity Place is initially targeting the delegated authority market, where it aims to simplify complex programme placement chains, reduce the number of back-and-forth information requests, shorten placement timeframes and reduce wholesale placement costs.
The start-up is targeted at MGAs, programme administrators, insurtechs, management teams, wholesale brokers, binder brokers insurers, and Lloyd’s underwriters for transacting binders, prior submit facilities, line slips and master policies.
“We believe this is a unique product that will help to modernise the way the market interacts,” said Capacity Place CEO, Marco Del Carlo. “Many companies seeking capacity for their insurance programs are struggling with knowing which risk carriers to approach, how to approach them, what information is needed and how can they safeguard their commercially-sensitive information.”
“We are like any other marketplace – we match up demand with supply,” Carlo added.
