Consilium, the international (re)insurance broker, part of the USD 1.5bn Aventum Group, has today announced that it has partnered with CAMGA (Canada Association of Managing General Agents) as a Gold sponsor of the Association.
CAMGA represents 90% of the MGAs in Canada and its members will benefit from Consilium’s broadening international footprint, delegated underwriting authority (DUA) capability and powerful digital actuarial services.
Steve Masnyk, Executive Director of CAMGA, comments: “We’re excited to welcome Consilium as our only Gold tech and broker sponsor. They are leading the way with technology in the field of actuarial forecasting and reporting. The MGA space here in Canada is still in its infancy in terms of its processes and systems, but what Consilium is achieving for MGAs in the UK and elsewhere, is something the MGA sector in Canada will benefit greatly from. Consilium and its in-house data and actuarial firm Mulberry Risk, promises to change the status quo for MGAs, offering valuable technology and expertise that is in high demand by our members.”
James Baird, joint CEO of Consilium comments: “Canada is one of our key strategic regions for international growth for Consilium as we expand our distribution footprint. The partnership with CAMGA broadens our network in the MGA community and gives Canadian MGAs strategic access to our global network of capacity providers through our dedicated broking and MGA advisory team. Consilium is very much a digital broker with technology at the core of its services. With market leading digital actuarial services in house, that help MGAs to secure, grow, retain and protect their capacity by affordably and efficiently managing their portfolios, we will be giving Canadian MGAs a truly differentiated proposition and service.”
Mulberry Risk is a technology platform and consultancy providing actuarial, analytical, exposure and capacity management services to MGAs. Consilium’s parent company Aventum, acquired Mulberry Risk last year, bringing an actuarial data revolution to Aventum and to the whole MGA space, introducing never seen before actuarial services driven by automation and artificial intelligence. Its platform makes leading actuarial insight affordable for all MGAs.
It uses AI to manage data processes and deliver automated modelling insights, analysing portfolios to identify less profitable segments and making informed recommendations to improve the overall performance of a book. The speed and accuracy of AI powered performance information reduces delay and friction with insurers and more regular ULR forecasts give insurers confidence, providing a full audit trail on every piece of data and protecting MGAs’ capacity longer term.
Consilium and Mulberry Risk will be exhibiting at the CAMGA Trade Show in Toronto on 8th June.