Guy Carpenter eyes new opportunities with insurtech center of excellence

Reinsurance broker  Guy Carpenter & Company has launched a new insurtech center of excellence (COE), in a move it hopes will help strengthen partnerships with re/insurance carriers and managing general agents (MGAs), as well as open up new opportunities for growth.

The insurtech COE will offer a range of reinsurance broking, advisory and analytical services customised for the bespoke needs of carriers and MGAs operating on cutting-edge technology-driven platforms. The COE will facilitate Guy Carpenter’s delivery of specialised capabilities for clients and prospects, including market-entry analysis, portfolio construction, actuarial support, rating advisory and capital modeling.

Additionally, as part of its further expansion into the insurtech space, effective January 1, 2022 Guy Carpenter will expand its relationship with Celent, a financial technology analyst firm that is part of Marsh McLennan’s Oliver Wyman Group, focused on providing technology research and advisory services for insurers and other financial institutions globally. Through this arrangement, Celent will provide intelligence on insurance technology to Guy Carpenter’s clients.

The broker currently maintains a portfolio of insurtech clients totaling nearly $3 billion in direct written premium (DWP), including many of the initial public offering (IPO) and special purpose acquisition companies (SPAC) transactions.

The new team will be led by Max Aronchick who has many years of experience within Guy Carpenter in the P&C space and has led many key initiatives that brought innovative transactions to market, both with established carriers as well as tech-enabled underwriting entities.

John Trace (pictured), chief executive officer of North America at Guy Carpenter, said: “The insurtech COE positions Guy Carpenter at the forefront of the development of the tech-empowered insurance market. By bringing together an extensive team of sector experts exclusively dedicated to this rapidly evolving environment, our aim is to provide the most relevant services and solutions, coupled with market insight and intelligence to support industry innovation.”

Will Garland, president of Centers of Excellence at Guy Carpenter, added: “The establishment of the insurtech COE is a clear next step for Guy Carpenter. It will not only help us further strengthen the partnerships we have developed with numerous carriers and MGAs at the leading edge of insurtech, but also open up considerable new opportunities to grow our presence in this highly relevant space.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.