NIG to provide capacity for McNamee’s digital MGA C-Quence

Digital MGA C-Quence has revealed that NIG – part of the Direct Line Group will provide capacity for its new property casualty (P&C) suite.

It will be launched in early March to brokers currently using the C-Quence Elements platform.

The roll-out will be phased will see C-Quence’s risk appetite expand to include 21 broad industry sectors.

C-Quence was launched by ex-AIG boss Jacqueline McNamee, who is also chief executive of the digital MGA.

She said: “As we expand into the commercial property casualty market it is critical for our broker relationships and their clients that we establish an excellent long-term relationship with a top-grade capacity provider.”

Roll out

The roll-out will be implemented in two phases. The first phase will focus on three of these groups – business & professional services, retail and hotels & accommodation.

Meanwhile, the second and third phases will quickly follow with the inclusion of the remaining 18 industries.

The P&C product uses the same modular approach to covers that were originally applied to the company’s ML⁵ Management Liability suite.

Steve Scott, director - broker markets at NIG, added: “We have confidence in the innovative, technology and data driven model C-Quence have developed. We are particularly attracted to the fact that whilst it caters to smaller businesses, it is just as applicable to larger organisations that require more sophisticated solutions.

“We support C-Quence’s progressive vision to transform how complex commercial business is transacted and we look forward to a positive and successful partnership”.

Varied and complex

McNamee said that this was due to the fact is that “P&C is a more varied and complex set of risks than management liability, so a prudent phased rollout is the best approach when what we are bringing to the market is so powerful and radical”.

The C-Q Elements platform claims to offer broker users simplicity and utility despite the underlying complexity of P&C business. It makes extensive use of over 50 external data sources combined with thousands of underwriting algorithms supported by artificial intelligence (AI) and machine learning.

It hopes to make it easier for brokers to deliver sophisticated commercial insurance more quickly and at lower cost.

Using modules as a way of delivering the covers means that brokers can adjust the limits and retentions within each module to suit the specific needs of individual clients.

McNamee added: “It is an effective way of delivering sophistication without complication. It also means we can add cover modules easily should there be sufficient demand. Indeed, we already plan to add a couple more in the near future such as legal expenses and terrorism in the UK cover.”