Limited Company Augmented UW Launches for the First Time
New AI-Driven MGA Transforms London's Smart-Follow Insurance Market
A new player has entered the London insurance market, and it's bringing a revolution in the form of artificial intelligence (AI) and digital tools. Augmented UW Ltd., a newly launched Managing General Agent (MGA), aims to streamline and optimise underwriting processes, particularly targeting the smart-follow insurance market.
Founded by Daniel Prince, a former CEO of Rethink Underwriting, Augmented UW Ltd. has a specific focus on the smart-follow underwriting model. This model allows follow capacity providers to use structured rules and automation to make underwriting decisions on selected risks, enhancing efficiency and consistency.
The MGA's key features include AI-driven algorithmic underwriting, digital relationship building, and a commitment to sustainability and improvement of the London Market. By combining AI-powered, algorithm-driven underwriting with real-time digital connectivity between brokers and insurers, Augmented aims to reduce manual processes and human error, thus improving decision-making accuracy and operational efficiency.
Augmented strengthens the connections between brokers and insurance carriers by enabling brokers to manage their own in-house follow panels digitally in the London market, providing a smoother, tech-enhanced experience for placing business.
In a statement, Daniel Prince expressed that Augmented aims to enhance the broker-carrier relationship and create a more sustainable London Market by carefully implementing advanced AI technologies without disrupting the existing market.
To support its AI underwriting operations, Augmented has formed a strategic technology partnership with Artificial Labs, a prominent insurtech firm specialising in smart underwriting and placement software. This collaboration combines Augmented's MGA and data expertise with Artificial Labs’ technological capabilities to deliver a powerful, efficient underwriting solution built for brokers and carriers in the smart-follow market.
While Augmented is not intended to bring a panel of capacity to a broker, it will provide the infrastructure to trade digitally. The MGA plans to bind its first risk in Q4 of 2025, initially targeting Property and Terrorism, before expanding into other lines in 2026.
Meanwhile, Stability Risk UW Limited, another new MGA, is being launched by Connect Underwriting Limited, regulated by the UK Financial Conduct Authority. Stability Risk will write contingency, casualty, cyber, and financial lines on a global basis, supported by Lloyd's and London-market capacity.
As the insurance industry continues to evolve, these new MGAs demonstrate a commitment to leveraging technology to improve underwriting processes and create a more efficient, sustainable market. With AI-enhanced algorithmic underwriting at the forefront, it's an exciting time for the London insurance market.
- Augmented UW Ltd., an AI-driven MGA, partners with Artificial Labs, an insurtech firm specialized in smart underwriting and placement software, to implement advanced technologies and streamline underwriting in the London Market.
- Recognizing the importance of technology in underwriting, Stability Risk UW Limited, another new MGA, plans to write contingency, casualty, cyber, and financial lines on a global basis, supported by Lloyd's and London-market capacity.
- By using AI-driven algorithmic underwriting, digital relationship building, and committing to technology, sustainability, and efficiency, both new MGAs aim to enhance the broker-carrier relationship and create a more sustainable London Market.
