New MGA using AI-enhanced algorithmic underwriting launches

A new MGA which uses digital underwriting tools and artificial intelligence (AI) to serve the smart follow insurance market has been launched.

Called Augmented UW, the firm will use AI-enhanced algorithmic underwriting to build digital relationships between insurance carriers and brokers in the smart-follow market.

It was founded by chief executive Daniel Prince, who was formerly the top boss at Rethink Underwriting.

He aims for the startup to bind its first risk in Q4 2025, initially targeting property and terrorism, before expanding into other lines in 2026.

“I am delighted to be able to announce the launch of Augmented, an MGA focused on the broker and insurer relationship to create a more sustainable London market,” said Prince.

“The London market is not broken. It needs a steady hand to implement new technologies, such as AI, to enhance the way insurance operates.

“Efficiency and accuracy can replace manual process and human error. Brokers and carriers will, as a consequence, have a much smoother experience when doing business in the London insurance market.”

Partnership

Augmented will offer digital underwriting to enable brokers to create their own in-house follow panels in London.

It has also partnered with smart underwriting and placement insurtech Artificial Labs, which will provide technology and software tools for the newly-created entity.

Prince said: “We are excited to be partnering with the team at Artificial Labs.

“For us, their highly configurable platform offered the fastest route to market. Combined with our own MGA and data expertise, we’re building a powerful proposition for brokers and carriers alike.”

David King, co-founder and co-chief executive at Artificial Labs, added: “We are proud to partner with Augmented. This partnership is an exciting new chapter for us and is a step forward in our vision that one day all the best brokers and carriers will be using Artificial Lab’s technology.”