UK Financial Services specialist Altus Consulting has today announced that the principals of Cognitive Risk have joined Altus to establish a new practice within its Insurance domain, Altus Specialty Markets.
Altus has developed a strong reputation for the work it has done to support the UK General Insurance market and emerging Insurtechs. By enlisting the services of the Cognitive principals, Altus will now be able to extend operations into the global specialty market sector. Cognitive Risk will rebrand as Altus Specialty Markets.
Cognitive Risk is an innovative change consultancy founded by industry veterans Mark Huxley (Chairman) and Matt Carter (CEO). It launched in 2019 and quickly established itself within the Lloyd’s, London and broader specialty markets, helping them in their move towards digitisation, go-to market strategies, improving operating efficiencies and product market fit. Cognitive’s clients are a mix of established insurance providers and next generation technology businesses.
Speaking of the acquisition, Altus Consulting Director Martyn Evans said: “We have known Cognitive since their inception and have always admired their deep sector knowledge, their understanding of the application of technology and their values as a business. We have had a desire to expand the scope of our consultancy services into the specialty markets for some time, so are delighted with them joining the team. Cognitive is an excellent fit for our business and we are excited at the prospect of combining the strength of the two organisations to provide an excellent service to our customers”.
Cognitive CEO Matt Carter added: “Following the success we have had since launch, we have been looking at options for taking the business to the next level. We have always admired Altus and collaborated with them since we founded the business. Coming together is a very exciting prospect and means we can now significantly and quickly enhance the scope of what we can deliver to the specialty markets, capitalising on Altus’s well-established approach, industry leading models and tools.”