money-2-istock-185237377
iStock/p1images
20 March 2019Insurance

Arch Insurance invests in UK insurtech MGA Archipelago Risk Services

Arch Insurance International has invested in Archipelago Risk Services (Archipelago), a personal lines managing general agency backed with underwriting capacity from Arch Insurance (UK).

Archipelago, which underwrites only intermediated business, is a new insurtech personal lines insurer founded by former Aon executives Angus Simpson, who will serve as CEO, and Richard Coleman.

Archipelago will distribute its products in the UK covering home, motor, travel, pet and residential investment property through wealth managers and selected specialised personal lines brokers.

The Archipelago platform is a trading system developed to transform the business of personal lines by helping distribution partners grow and manage their client accounts by automating much of the customer journey and reducing the burden and cost of administration and compliance.

Hugh Sturgess, CEO of Arch Insurance International, said: “Our investment in Archipelago allows us to offer an innovative and differentiated way to serve mid- to high-net-worth individuals in the UK. Archipelago is the newest part of our overall UK growth strategy.”

Simpson commented: “We founded Archipelago from our desire to improve personal lines for everyone involved. In creating our new platform, we re-examined every part of the business model and, crucially, the service to our distribution partners and their clients.”

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

More of today's news

Munich Re unveils ‘ambitious’ group profit target for 2019’

SCOR reveals top level reshuffle ‘confirming depth of group’s talent’

Chaucer unveils senior China Re exec as new non exec

AXA launches blockchain payment protection experiment in Sweden

R&Q’s Accredited secures upgrade from AM Best

PERse sets up Miami office to focus on LATAM renewable energy

Loss estimate for December 2018 Sydney hailstorms lowered: PERILS

Download our whitepaper: 'Why Automation & AI Matters For Commercial Lines'

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
22 March 2019   Arch Capital Group has appointed John Pasquesi as chairman of the board, succeeding Constantine ‘Dinos’ Iordanou in September 2019.
Insurance
18 March 2019   Arch Mortgage Insurance Company (Arch MI) has confirmed $341.7 million in indemnity reinsurance from special purpose reinsurer Bellemeade Re in an insurance-linked security (ILS) deal.