Commercial MGA launches into eTrade as it looks to plug market gap

Ventis has announced that it is launching into the eTrade market with Acturis as it looks to plug a gap in the market.

The deal will see the commercial and residential real estate MGA issue policies that cover up to 20 properties, with a total sum insured of up to £20m, through the software house’s platform.

Policies up to £10,000 can automatically be bound, with any quotes requiring a referral aiming to be handled within half an hour by the Ventis underwriting team.

The MGA has made the move in a bid to plug a gap in an underserved market segment – Ventis’ core appetite for standard real estate risk lies in a policy value between £5,000 to £20,000.

“This is an area that falls awkwardly between the appetite of other MGAs and that of the largest insurers in the market,” the MGA said.

“Ventis has identified this gap and is launching on Acturis in order to provide brokers with a differentiated offer in an underserved market segment.”

Ian Newman, director of SME at Ventis, added: “We are hearing from brokers that the eTrade market is oversaturated below a policy value of around £5,000, with a dearth of quality capacity above that.

“Ventis’ tailored SME and mid-market real estate products have received a hugely positive reaction from the market since launching in December 2023. By bringing the same product through the eTrade platform where many brokers have established positions, we are looking to tap into that same underserved tranche.”

’Landmark moment’

The expansion into eTrade is being led by Newman, as well as Jenny Attewell, the MGA’s SME lead underwriter.

Ventis said that being able to offer products through eTrading and open market underwriting would “deliver a consistency of business offering to its key broker partners and give them the control over where and how they write their business”.

Gareth Roberts, chief executive at Ventis, added: “This expansion is a landmark moment for Ventis. By bringing in top of the range talent to develop our offering, we are looking to establish ourselves as the number one real estate provider to our partner brokers.

“We are very ambitious in this space and believe that our market-leading proposition will continue to deliver results across both our eTrade and our open market underwriting.”