The Managing General Agent (MGA) model has become a successful way for many insurtech startups to establish themselves, but the subject of this week’s podcast is a bit different to other MGAs in the marketplace.

Pen Underwriting was created by bringing together 12 companies in 2014. Its work covers claims, pricing, and distribution with more than £650 million in gross written premium per year.

Chief Business Development Officer Nick Wright joins Matthew on Podcast 163 to explain how Pen Underwriting supports its partners and why investing in innovation is a key part of the company’s approach.

Talking points include:

Advantages of the MGA model
Creating products for insurer partners
Monitoring the market and looking outside of insurance
The growth of parametric and usage-based insurance
Using telematics to mitigate risk

More information on Pen Underwriting is available from the company’s InsTech London member profile page.

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Continuing Professional Development - Learning Objectives

InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech London podcast or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme.

The Learning Objectives for this podcast are:

Identify some of the benefits of innovation in insurance
Understand what is unique about MGAs and some of their advantages
Determine how telematics can be used to mitigate risk

If your organisation is a member of InsTech London and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 163 page of the InsTech London website or email cpd@instech.london to let us know you have listened to this podcast.

To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.

Nick Wright: Chief Business Development Officer, Pen Underwriting: Every problem has a solution (163)

InsTech - insurance & innovation

Nick Wright: Chief Business Development Officer, Pen Underwriting: Every problem has a solution (163)