Bermuda-based re/insurance firm, Arch Capital, is to provide underwriting capacity to C-Quence, a new insurtech MGA founded in 2017.
Long-term financial backing has been provided by investment holding company Primary Group.
“Our ambition is to transform mid-market commercial insurance provision in our target markets of the UK and Ireland by radically improving broker and customer service whilst driving down transaction costs and employing leading edge underwriting,” commented the Chief Executive Officer of C-Quence, Jacqueline McNamee.
“We will do this by developing smart technologies that are intuitive and adaptable; by putting data and data analytics at the heart of everything we do and by creating innovative insurance products for open market and facilities business. In short: modernising the market.”
“With the support of some key commercial brokers we already have a platform in advanced development that raises the bar by setting significantly higher standards for broker and underwriter usability and functionality,” added McNamee.
C-Quence, founded by former AIG Executive Director, McNamee, is an appointed representative of Ambant Underwriting Services Limited.
Steve Hardy of Primary Group said, “We were initially attracted by the potential of Jacqueline’s vision. The fact we could offer both financial and technical support to C-Quence means that we are ideal partners for this transformative business.”
Matthew Shulman, President and CEO at Arch, commented, “At Arch, we support the view that innovative technology solutions are a necessity for carriers and brokers who are looking to grow their small to mid sized commercial insurance portfolios, and we are very excited to partner with C-Quence in this new endeavour.”
