Amwins Global Risks, the international arm of global specialty insurance broker Amwins, announced the launch of Amwins Amplify, a new automated follow-form facility, led by Beazley’s Smart Tracker Syndicate 5623.
Amplify is initially covering property before adding cross-class diversification, with up to 15% capacity for policies written on a subscription basis following terms set by a select panel of underwriters.
Amwins currently places more than $2.5 billion of business into the London market, providing a substantial base with which to build complementary market facilities, the company said.
Amplify is led by John Andrews and Tom Wallace, who, with a combined five decades of experience in both broking and underwriting between them, are well-placed to build the programme out.
“We’re excited to be at the forefront of growth in automated underwriting as it increases both scale and efficiency for markets, as well making the London market a more diversified and competitive place to do business,” commented Tom Wallace, head of Capacity Portfolio Management.
“By making it easier for Amwins’ brokers and clients to access exclusive facilities, we ensure a higher take-up and better delivery for our capacity providers. The fusion of technology, data and analytics is fundamental to our success and the continual development of capabilities and platforms,” Wallace added.
“We’re confident Amplify will provide immediate access for carriers at market terms, and simplify the placing process for both brokers and clients,” according to John Andrews, head of Capacity Portfolio Management. “What’s more, we’re thrilled to have Beazley as our initial capacity partner as they have been a driving force in the automated and follow form underwriting capabilities.”
Will Roscoe, head of Portfolio Underwriting, and active underwriter of Beazley Smart Tracker Syndicate 5623, said: “Beazley is delighted to provide capacity to Amplify, a facility which has high quality data, and potential for strong future growth. We are confident that this exciting new facility will both create efficiencies for Amwins Global Risks clients and also attract new business to the London market.”
About Amwins Global Risks
A specialist wholesale insurance and reinsurance broker, Amwins Global Risks serves clients and markets in the UK and internationally. It places more than $2 billion annually of premium into the London and global marketplace.
Source: Amwins
Topics New Markets
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