Catlin's re/insurance start-up Convex strikes long-term strategic partnership with WNS

Insurance veteran  Stephen Catlin and Paul Brand's newly launched specialty re/insurer Convex Group has signed a long-term strategic contract with WNS Holdings to build what it describes as a first-of-its-kind, integrated "Platform + BPM (business process management) as-a-service” proposition across industry horizontals, including support services relating to operations for insurance, reinsurance, claims, finance and human resource.

Convex was launched in April 2019 with an initial capital commitment of $1.8 billion, and is based in the UK and Bermuda. It underwrites insurance and reinsurance for complex specialty risks across a diversified range of business lines. Convex aims to build an insurance company that is free from legacy systems and processes.

Under the agreement, WNS will provide processing support, and design a unique target operating model for Convex.

“Our team at Convex is excited to be building the 'insurance company of the future' free from legacy systems and processes. We believe WNS has the operational excellence needed to support the execution of our business strategy. We are building a platform which is flexible, scalable and efficient and WNS will be a great partner to support us on our journey,” said Adrian Spieler, group COO of Convex.

Keshav Murugesh, group CEO of WNS, said: “This is indeed a proud moment for our combined teams and a culmination of the focused efforts and collaboration, towards co-creating a unique end-to-end “Insurance in a Box” product solution and unique value proposition for the Convex Group.

"We are delighted to have been chosen as the strategic partner by the Convex Group and I am confident that we are going to set new industry benchmarks together. We look forward to working closely with the Convex Group to help establish them as a leader in the (re)insurance market and provide world-class services to their clients and brokers across the globe.”

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