The broker will also expand its relationship with financial technology analyst firm Celent

Reinsurance broker Guy Carpenter has launched its Insurtech Centre of Excellence (COE) to provide comprehensive services to reinsurance carriers and MGAs.

The COE will offer a range of reinsurance broking, advisory and analytical services that are customised for the needs of reinsurance carriers and MGAs operating on technology-driven platforms.

As part of its further expansion into the insurtech arena, Guy Carpenter will also expand its relationship with financial technology analyst firm Celent, effective from 1 January 2022.

Celent is part of Marsh McLennan’s Oliver Wyman Group - it provides technology research and advisory services for insurers and other financial institutions globally.

Through this arrangement, Celent will provide market-leading intelligence on insurance technology to Guy Carpenter’s clients.

Will Garland, Insurtech COE president at Guy Carpenter, said: “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.”

Forefront of development

The Insurtech COE will enable Guy Carpenter’s delivery of specialised capabilities for reinsurance carrier and MGA clients, including market entry analysis, portfolio construction, actuarial support, rating advisory and capital modelling.

The COE will build upon the work the broker has undertaken in the insurtech arena to date - this began in 2018 with the creation of GC Genesis as an advisory offering.

The company currently maintains a large portfolio of insurtech clients, totalling nearly $3bn (£2.1bn) in direct written premium. This includes initial public offering (IPO) and special purpose acquisition companies (SPAC).

Leading the team will be Max Aronchick, who has a strong track record in property and casualty insurance. He has led many key initiatives at Guy Carpenter that have brought innovative transactions to market, both with established carriers as well as tech-enabled underwriting entities.

Speaking about the COE launch, Guy Carpenter’s chief executive of North America John Trace 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.”