Rokstone, an international specialty re/insurance MGA and part of the Aventum Group, has launched a new Sports & Prize Indemnity Division with an exclusive facility from Allianz Commercial.
“Combining insurance expertise with pricing expertise from the sports analytics industry, Rokstone is creating a fully regulated insurance vehicle with the most accurate pricing available for businesses, brands, sporting teams and sponsors to offset their financial exposure to contractual bonus agreements,” the MGA stated.
Led by Bradley Morrish, CEO, Rokstone Sports and Prize Indemnity, the Division will have the ability to write line sizes of $20 million and above.
Morrish comes from a Sports Betting Exchange background, having spent over 15 years working for Betfair and Matchbook, the latter as Chief Commercial Officer. He has substantial experience with syndicates that use quantitative analytics to mathematically price the probability of sporting events.
His broad expertise ranges from major US sports, to Football, Tennis, Golf, and more. Bradley will use these skills to enable Rokstone to introduce better models and new capacity to the insurance market, Rokstone stated.
The CEO will be supported by Angus Lineker, the son of football legend Gary Lineker. His expert knowledge and connections across all sports makes him an invaluable member of the team, the firm added.
“Traditionally insurance in this market provides ‘Contractual Bonus’ cover which uses rudimentary pricing models that make policies financially prohibitive for most. This is an area that is often overlooked and misunderstood, representing a massive opportunity to grow profitably by combining the latest advances in sports analytics with insurance expertise,” said Morrish.
He continued: “It’s the perfect marriage. I am thrilled to be part of Rokstone and to bring this disruption to the market. We’ve also partnered with Allianz Commercial’s Risk Transfer Division, which speaks volumes about the strength of the proposition. Without a doubt this is a new dawn for sports and prize indemnity.”
James Potter, CEO of Rokstone, commented: “The launch of Rokstone Sports and Prize Indemnity is a classic example of Aventum’s unique Synergy model; designed for entrepreneurial underwriters or brokers to become substantial shareholders in a new Aventum subsidiary – whether under Rokstone or our global broking arm Consilium.
“We have consistently outperformed the market over the past 5 years and grown organically through the establishment of new specialty lines subsidiaries, each focused on a particular industry specialism or niche.”
