McGill and Partners announce deal with AIG on subscription market capacity

McGill and Partners has announced a new long-term strategic partnership with AIG that will see the latter supply capacity of up to 25% across the broker’s $1.6bn (£1.2bn) gross written premium (GWP) specialty portfolio.

The collaboration – which the specialty broker called a “major development for the subscription market” – will see AIG-developed underwriting criteria embedded into McGill and Partners’ digital broking platform, enabling real time capacity deployment.

AIG said that it worked with Palantir to build an ontology of the broker’s portfolio, which McGill and Partners said validated the “strength and quality” of its book.

AIG will continue to use Palantir’s Foundry Platform in addition to McGill and Partners’ digital platform to manage portfolio insights, process exposure in real time, limit deployment and model risk outputs.

Market disruption

Steve McGill, chief executive at McGill and Partners, said: “This collaboration has the potential to disrupt the dynamics of the subscription market.

“It strengthens the value proposition of leading underwriters in the market and redefines the way capacity is positioned in the best interests of our clients. This moves beyond incremental change and repositions the way the market operates in the future.”

Peter Zaffino, chairman and chief executive at AIG, added: “The rapid evolution of artificial intelligence (AI) and large language models is reshaping risk analytics, giving us the ability to continuously learn from McGill and Partners’ portfolio and deploy capacity with greater insight, discipline and speed.

“By using McGill and Partners’ robust data ingestion capabilities along with Palantir’s Foundry platform, we are able to evaluate their portfolio to align with our risk appetite, and over time, we see significant opportunity to deliver greater efficiency to the subscription market while giving clients easier access to high-quality insurance solutions.”