Quotech, a developer of integrated technology solutions for underwriting and broking teams, partners with Provectus, an AI systems integrator, to develop new AI-powered underwriting tools for MGA Kinetic Insurance Services.
For Convex, the collaboration represents a strategic move to embed high-fidelity data directly into the underwriting workflow.
To stand out in the MGA market, Kinetic is pioneering a highly advanced, AI-enhanced operating model that allows underwriting talent to focus on their core skills.
It integrates diverse, real-time data streams – including vessel tracking, weather patterns, and historical loss data – giving underwriters a more comprehensive view of risk at the point of quotation.
Theo Butt, Chief Executive Officer at Kinetic, said: “Convex was originally attracted to Quotech by the team’s ability to incorporate real-world underwriting experience into technology for insurance underwriting. We were attracted to Provectus by their very long track record in the practical application of AI.
“Both have delivered outstanding results for Convex on previous projects, so bringing them together to build the underwriting platform for Kinetic, our new MGA platform focused on large, complex, and middle-market specialty risks, was an obvious choice. We are delighted with what they have delivered, and believe it will give Kinetic a genuine competitive advantage.”
As an AI-driven insurance underwriting platform, Kinetic delivers API-connected intelligent data capture powered by multi-format ingestion and smart data extraction, as well as data normalisation into the OASIS Open Exposure Data standard.
It also provides flexible appetite-based submission triage and routing, AI-powered risk profiling for effortless structuring, a superpowered underwriting workbench with built-in authority controls, and API-connectable quote & bind functionality.
Finally, it has also been designed to deliver ultra-fast product and rating development through AI-assisted authoring, exposure management with real-time cat monitoring and impact calculations, and intuitive invoicing, bordereaux, and reconciliation premium accounting functions
Guillaume Bonnissent, Chief Executive of Quotech, said: “It has been exciting to work with Provectus on this project. We’re insurance technology experts, and whilst we know a fair bit about AI, we’re not AI specialists.
“Through our partnership with Provectus, we’ve provided Kinetic with an underwriting platform that combines the most sophisticated AI available with first-hand knowledge of MGA processes, garnered at the coal face. That gives Kinetic underwriters a head start. We put all the information they need at their fingertips through AI powered tools that let them work smarter.”
Oleg Blokhin, Chief Commercial Officer at Provectus, added: “We were building practical applications for artificial intelligent long before the technology was the flavour of the day. To build the best possible tools, it’s always best to work with individuals who understand the daily workings of the people who will be using them.
“Our partnership with Quotech has proved invaluable I this project for Convex, because Guillaume and his team genuinely understand the specialty underwriting process, and the pain points within it. That has helped us to deliver an AI system for Kinetic which creates real value by automating mundane tasks which otherwise would consume underwriters’ time pointlessly.”
