Arch Insurance International has made an undisclosed investment in Archipelago Risk Services, an insurtech personal lines managing general agency (MGA) based in London.
Archipelago is backed with underwriting capacity from Arch Insurance (UK). The MGA will distribute its motor, home, travel, pet, and residential investment property products in the UK through wealth managers and selected personal lines brokers.
Using a new business model based on latest technology and primary data sources, the MGA will underwrite only intermediated business.
The Archipelago platform was established by former Aon executives Angus Simpson – who will serve as CEO – and Richard Coleman.
Designed as a trading system, the new platform will enable distribution partners to grow and manage their client accounts by automating much of the customer journey and decreasing the burden and expenses of administration and compliance.
The platform will also improve customer service by minimising policy application question sets and enabling clients to digitise their claims process.
Arch Insurance International CEO Hugh Sturgess said: “Our investment in Archipelago allows us to offer an innovative and differentiated way to serve mid- to high-net-worth individuals in the UK. Archipelago is the newest part of our overall UK growth strategy.”
Simpson stated: “We founded Archipelago from our desire to improve personal lines for everyone involved. In creating our new platform, we re-examined every part of the business model and, crucially, the service to our distribution partners and their clients.”
Arch Insurance International comprises Arch’s insurance operations in Europe, Bermuda and Australia.
The UK Business is written by Arch Insurance (UK) or Arch Underwriting at Lloyd’s Limited on behalf of Lloyd’s syndicate 2012.
Business in the EU/EEA is written by Arch Insurance (EU) dac or through the Lloyd’s Brussels platform.