Ex-AIG boss McNamee’s new MGA C-Quence has launched its underwriting platform
Insurtech MGA C-Quence has made its underwriting platform live.
Its chief executive, ex-AIG boss Jacqueline McNamee, said: “We believe it sets a new industry standard for underwriting service.”
The platform called C-Q Elements makes it easy for brokers to deliver commercial insurance quickly at a lower cost.
The firm also released its management liability product – ML5 which enables brokers to combine management liability cover with up to four other covers while tailoring options per module to suit needs.
C-Q Elements includes the use of third-party data to ask fewer questions for quotes. It also features underwriting and sanction checks.
It claims its referral recommendations reduce administrative costs speeding up underwriting decisions.
McNamee explained: “Having started on 1st March last year I am proud with what our talented team have achieved in such a short space of time.
“I am extremely grateful to the broking firms that helped us develop C-Q Elements. Their pre-release testing and positive feedback was key to delivering a trading platform that effectively meets broker needs.”
Management Liability cover
ML5 claims to use “short, simple and clear” wording to make policies easier to understand.
And it can seamlessly integrate endorsements with policy wordings.
McNamee added that the speed at which C-Quence achieved its first major goal gives her confidence that the business will grow rapidly this year.
This includes delivering a property and casualty (P&C) suite with similar lines to ML5.
McNamee previously worked at AIG as chief executive but left in 2015, founding C-Quence after.
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