Aurenity, a tech-enabled managing general agent (MGA) focusing on the Excess and Surplus (E&S) market, has chosen Origami Risk to build its core underwriting platform.
As its technology partner, Origami will work together with Aurenity’s team to develop the platform that will have customised configurations.
The new platform will be a multi-tenant solution that supports different business models as well as enables simplified underwriting and automated policy management.
Aurenity COO Patrick Safino said: “Origami Risk is a highly configurable solution that will be central to our underwriting ecosystem.
“Their capabilities will enable our underwriting teams to automate the policy lifecycle and spend more of their time engaged with our brokers.
“It also provides us with the agility to make real-time adjustments to our ‘augment’ pricing algorithms as market conditions shift.”
Aurenity is currently developing an underwriting network to provide improved pricing, and speed-to-market adjustments.
The company’s technologies will be designed to enhance the underwriting process, leveraging automation, real-time analytics and portfolio management solutions.
Aurenity was launched in January this year with backing from US-based investor Agman through a $10m seed funding.
The company aims to go live with its initial excess casualty offering by the third quarter of this year.
Origami Risk core solutions president Chris Bennett said: “We’re delighted that Aurenity has selected our versatile, true SaaS insurance technology solution for its underwriting platform.
“We look forward to working in close collaboration with their team to create a scalable solution that provides the tools and functionality that meets their needs now and well into the future as they expand their solution set, distribution network, and client base.”
In April this year, Origami Risk announced a collaboration with specialty (re)insurer Canopius USA to provide its multi-tenant platform for underwriting, billing, and claims administration.