19 October 2018Insurance

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.”

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

More of today's news

AIG expects up to $1.7bn cat loss for Q3

Ex-DARAG CEO unveils new carrier backed by Munich Re

Aon forms new ventures group, appoints CIO and leadership team

Everest Re expects $240m Q3 cat loss

New Nordic’s Danish subsidiary Qudos suspends underwriting amid restructuring

Don't miss our insurtech email newsletter - sign up today

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
10 July 2018   US-based insurtech startup OnRisk has formed a strategic partnership with independent Lloyd's broker AFL to develop new technology for structuring and placing property & casualty (P&C) risk.