Multi-class international managing general agent (MGA) platform, Volante Global Limited, has announced the establishment of Edison Motor, a London market commercial motor insurance MGA.
Edison Motor will offer comprehensive commercial motor insurance solutions to niche markets in the UK, with key business lines being the public sector, such as police forces, fire and rescue services, and ambulance fleets, as well as hazardous goods and haulage.
The new company will offer both conventional and non-conventional insurance products developed based on robust pricing models, and will offer ‘AA+’ rated capacity, that has been secured on a five-year deal. Reinsurance broker Aon Benfield secured the agreement, which was led by Vijay Mavani, Mark Flower and Rob Sharp.
Volante has also announced the appointment of Steven Dickie and Doug Ockwell as joint Managing Directors of Edison Motor.
Dickie has 40 years of motor insurance industry experience, most recently as a Portfolio Manager for QBE Europe’s Motor account.
Ockwell brings 25 years of industry experience to the role, and prior to Edison Motor was an Underwriting Manager for QBE Europe’s Motor account.
Dickie, commented; “At Edison Motor, our aim is to focus on delivering and maintaining the highest standard of service across all aspects of our client solutions. That means ensuring we achieve a rapid turnaround on quotes, produce bespoke policies, provide a best-in-class claims service, and offer outstanding risk management support.”
Ockwell, added; “Operating from the Volante platform means we can maximise our underwriting time and hit the ground running. It provides an end-to-end system spanning everything from initial quotes and binding through to issuing documents and supporting claims management. That means we can concentrate on meeting the unique and increasingly complex challenges faced by the UK commercial motor market and building close working relationships with our brokers and clients.”
While founder and Chief Executive Officer (CEO) of Volante, Talbir Bains, said; “We are delighted that the first MGA has launched from the Volante platform. Edison Motor is exemplary in defining the underwriting fraternity that we are looking to create – a team which is led by exceptional underwriting talent and fully supported by Volante’s technological, actuarial and operational infrastructure, and most importantly puts a risk assessment ethos at the origin of its underwriting approach.
“From these firm foundations, Edison Motor has been optimised to focus on our primary goals of delivering underwriting profit to our supporting capacity provider and make huge inroads into key market sectors which we believe are currently underserved. This will then truly deliver on a vision that is, in essence, commercial motor underwriting reimagined.”
