Global re/insurance outsourcing and consulting specialist Pro Global Holdings Limited, who serve around 160 clients worldwide, has announced that its dedicated distribution services and managing general agency incubator unit, Pro MGA Solutions Inc (‘Pro MGA Solutions’), has formed a strategic partnership in the U.S with intelligent decision platform provider QOMPLX Inc. (QOMPLX).
QOMPLX introduced its U.K. based MGA providing underwriting services through Pro’s U.K based MGA incubator earlier this year. Its first product provides insureds with one single and simple insurance policy for multiple perils.
The QOMPLX MGA uses the QOMPLX:INSURANCE decision platform to create an integrated data-driven underwriting platform.
Through the partnership with Pro, this capability will be extended to Pro and QOMPLX’s respective U.S operations, where the focus is on the growth of technology-based solutions in the MGA sector.
The move follows Pro’s launch into the distribution services sector in the U.K and the U.S earlier this year through the acquisition of MGA incubator platform Vibe MGA Management (‘VibeMM’) in London, U.K – a deal which has now received regulatory approval from the U.K Financial Conduct Authority – and through the formation of Pro MGA Solutions Inc, based in York, PA, U.S.
Artur Niemczewski, CEO of Pro, said: “A strategic partnership between QOMPLX and Pro has the hallmarks of a perfect match – we have been hugely impressed with the innovative, forward-thinking and client-first approach that QOMPLX have taken in developing a data-driven MGA solution, and look forward to expanding this concept in partnership with our ‘MGAs to Order’ initiative in the U.S, with a strong Trans-Atlantic value proposition.”
Danny Maleary, CEO of Pro’s U.K MGA incubator, added: “Our regulatory green light ensures our business is poised to expand our combined expertise and the global concept of MGA management responding to strong demand for global reach, expert service and growth support capabilities.”
Alastair Speare-Cole, President and General Manager of QOMPLX:INSURANCE said: “I’m very pleased to be embarking on this strategic partnership with Pro.The traditional underwriter-driven MGA creation journey is evolving, and cost-effective, data-driven MGA structures are going to drive growth. We are very pleased to be embarking on this strategic partnership with Pro.”