Applied Underwriters launches Innovation Risk MGA platform

Applied Underwriters, a provider of insurance solutions, has announced the launch of Innovation Risk, a new managing general agent (MGA) platform focused on casualty, accident, and life underwriting operations.

This new independently operated MGA platform proprietary will leverage technologies and advance risk measurement methods. It is also expected to attract top underwriting and tech talent globally.

Innovation Risk will build upon the company’s over three decades of successful research, development, and deployment of proprietary and patented underwriting methods.

These methods have created superior underwriting operations and profitable competitive advantages in the most difficult lines of business.

Initial deployments for Innovation Risk are planned for the US and EU. The platform will use predictive analytics refined over decades at Applied, as well as new R&D over the past five years in biotech and in telephony data.

Steve Menzies, Chairman of Applied Underwriters, noted: “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.”

Menzies also highlighted Applied Underwriters’ broader strategic vision, referencing the successful launch of United Risk, now a successful global MGA platform

He stated: “The establishment of United Risk a few years ago—today one of the top MGA platforms in the world—and now the establishment of 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.”

The executive concluded: “Private ownership affords us flexibility, and so we are often able to consider business problems differently and to our advantage. We have the winning formula for powerful, autonomous decision-making across our organization, bound together by an ethic of hard work and achievement.

“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.”

This website states: The content on this site is sourced from the internet. If there is any infringement, please contact us and we will handle it promptly.