Pen Underwriting inks deal with Open GI to expand distribution reach

Pen Underwriting has signed a three-year deal with Open GI to use its insurer-hosted pricing technology solution IHP Plus, a statement released today (21 August 2023) said.

IHP Plus is a stand-alone, cloud-based insurer hosted pricing solution that integrates with a number of enrichment providers at the point of a quote.

The partnership will see Open GI help expand Pen’s distribution reach by providing the solution for personal lines as well as the managing general agent’s (MGA’s) range of home products.

Jamie Lawson, eTrade and schemes director at Pen, said: “Providing agile, compelling and competitive solutions – particularly in what is a highly dynamic personal lines market – is central to Pen’s service proposition.

“Open GI’s flexible platform with its ability to offer real-time pricing adjustments, third party data enrichment, product performance monitoring and insights into customer buying behaviour will be central to that, as will its ability to integrate with other partners and software houses.

“Part of our ambitious growth plan is to enable more customers to access Pen’s proposition than ever before and Open GI, with a proven track record in this field, will help us further expand our distribution reach while also providing a scalable cloud-based solution to adapt to our needs.”

’Real momentum’

A statement said IHP Plus is hosted on Microsoft Azure and offers “additional security and reassurance, enabling both the enhancement of data and detection of fraudulent activity”. 

Pen secured a deal with Open GI to use the solution following a comprehensive tender process.

Simon Badley, Open GI’s chief executive, said: “Our relationship with Pen Underwriting has been collaborative from the offset.

“We have not only forged a strong partnership but generated real momentum from tender process through to implementation,” he said.

“We look forward to continuing to support the Pen team as they realise their plans and explore different opportunities to widen their distribution footprint moving forward, both in personal and commercial lines.”