’We both have similar ambitions for expansion in the UK P&C SME and mid-market sectors,’ says chief executive
Managing general agent (MGA) C-Quence has announced Sompo as its new capacity provider for property casualty and property owners propositions.
The MGA said the deal would allow it to better respond to broker demands with a broader risk appetite.
Jacqueline McNamee, founder and chief executive of C-Quence, said: “We are delighted to be partnering with Sompo, one of the most respected A+ financial strength rated carriers in the international property and casualty market.
”We both have similar ambitions for expansion in the UK P&C SME and mid-market sectors.
“Our new capacity agreement means we can better serve brokers’ needs with a broad risk appetite coupled with the precision of our algorithmic underwriting and extensive third-party data capabilities.”
Bob Thaker, chief executive of commercial P&C insurance at Sompo UK, added: “C-Quence is a great fit for us given its innovative approach to serving SME and mid-market clients through its diversified broker network.
”Its data driven technology supports underwriting excellence that is powering a growing, high-quality P&C and property owners portfolio.”
Schemes
C-Quence also felt that the new capacity deal would provide more scope for it to apply its schemes and facilities technology for brokers who have access to defined customer or industry groups.
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McNamee said: “Our technology means brokers wishing to develop a specific opportunity by offering a unique solution, or simplified application process, for their target market can quickly set up an exclusive scheme or facility with bespoke product rules and terms as well as competitive pricing, simply by accessing our easy-to-use trading platform.
“Our ‘customisation by configurable toolkit’ means we create tailored schemes in weeks – a fraction of the time the market is used to, making it easy for brokers to establish a competitive advantage.
”Our proposition is also supported by advanced lifecycle automation using robotics and our data analytics infrastructure for volume business.”
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