Arch Insurance International has invested an undisclosed amount in Archipelago Risk Services, a personal lines managing general agency (MGA).
The new MGA, brainchild of former Aon executives Angus Simpson and Richard Coleman, is backed with underwriting capacity from Arch Insurance (UK) Limited.
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The tech-driven MGA will underwrite only intermediated business. Its business model combines the primary data sources and latest technology with a flexible dynamic pricing options and multi-cover policy.
In the UK, the MGA distributes its home, travel, motor, pet and residential investment property offerings through selected personal lines brokers and wealth managers.
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.”
Angus Simpson said: “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.”
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By GlobalDataLondon-based Archipelago is wholly owned by Blue Sky Partners, a company jointly owned by management and Arch UK Holdings Ltd.
Simpson serves as the CEO for Archipelago.
