MagiClick UK and Clegg Gifford has launched ‘Six’, a brand new next-generation digital platform for the Lloyd’s broker, enabling quick, direct and seamless online access to Lloyd’s capacity for Commercial Property and Liability risks. As a Coverholder, Clegg Gifford was able to design Six specifically for the Lloyd’s market. Improved distribution is something that’s always good news for brokers and MGAs, here’s the word;
- Improved accessibility with Lloyd’s capacity now directly available on the UK high street
- Essential Lloyd’s capacity for Commercial Property and Liability risks is now available to SMEs
- Streamlined distribution model for Micro SME Binders at Lloyd’s
- Designed as a commercial insurance platform which supports and facilitates the Underwriting/Broking process, from initial enquiry to binder
- Instant quotes to brokers mean policies can be bound in minutes
- Efficiencies from improved distribution reduces Coverholder commission, meaning better value for direct customers and economically more attractive for capacity providers
Joe Barnard, Head of Lloyd’s & London Market at Clegg Gifford added;
“We’re excited to unveil ‘Six’, our pioneering platform designed to redefine the dynamics of the SME insurance market, which is just the beginning of our ambition to transform the Binding Authorities landscape at Lloyd’s.
“At its core, ‘Six’ is about value. By enhancing distribution efficiencies, it reduces Coverholder commission, ultimately delivering tangible savings for both clients and capacity providers. But this is not your typical InsurTech platform built by tech professionals. ‘Six’ was born out of real market needs, designed by the market, for the market.
“Our platform is poised to bolster the market making process, driving streamlined distribution that benefits customer and carrier alike. As we step into this new era, we’re proud to continue the Coverholder tradition of local underwriting without the overhead of extensive infrastructure. We’re harnessing our niche expertise and exceptional local relationships to craft a platform that not only serves the current market needs but anticipates the future ones. With ‘Six’, we’re not just playing the game – we’re changing it.”
Mark Lusted, CEO of MagiClick UK comments;
“This was a really exciting project to develop and launch as we had to create something that truly combined cutting-edge, solution-oriented technology with traditional distribution methods, which can be a tricky balance to find. Clegg Gifford’s 50 years’ of experience as a Lloyd’s Coverholder meant that they had the necessary insights to know how they wanted ‘Six’ to function and what it should look like.
“The positive changes will most definitely be noticeable to Retail brokers using the new system. ‘Six’ is a next generation front-end platform which uses the very latest technology to deliver an exceptionally fast and instant user experience. Brokers will now be able to take a client query, request a quote, accept and have the risk bound in minutes.”