Applied Underwriters said it has launched Innovation Risk, a new managing general agent (MGA) platform that will focus on casualty, accident, and life underwriting.
The MGA, while firmly rooted in proven, traditional insurance fundamentals, will incorporate the enhanced approaches developed by Applied over three decades of successful research, development, and deployment of proprietary and patented underwriting methods. It will be deployed in the U.S. and EU.
“Innovation Risk’s focus and competitive advantage lies in its ability to measure risk, and in this way, its value proposition rests squarely on traditional insurance practices. We fully expect Innovation Risk to quickly become the leader in proprietary insurance underwriting,” said Steve Menzies, chairman, Applied Underwriters. “Innovation Risk has a mission to cultivate the independent growth of each of its MGAs and MGUs according to each business’ own appropriate course, and our continuing and unprecedented aggregation of talent over the years tells it all.”
Menzies said the establishment of United Risk and now Innovation Risk “underscore the position our greater organization enjoys as the fast-moving, go-to for corporate development and M&A in underwriting and distribution, especially given the extraordinary mapping we offer for investors, insurance partners, and proven entrepreneurs seeking a pathway for realizing growth and value.”
Like Applied, Innovation Risk will be based in Omaha, Nebraska.
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