Acrisure London Wholesale (ALW) is the London-based wholesale arm of global fintech company Acrisure, and Acrisure Connect is a new digital platform designed to transform the way small and medium-sized businesses (SMBs) access the London market.
The platform was developed in partnership with Verisk Specialty Business Solutions and is supported by Lloyd’s and Flux Syndicate 1985.
By leveraging data analytics and streamlined digital placement, Acrisure Connect aims to address the historical friction that has kept London’s specialist underwriters away from small business risk.
Acrisure Connect will offer a range of specialist insurance products tailored to the needs of SMEs. Initially, these will include errors and omissions coverage, sexual harassment liability, transportation and cyber. Additional product lines are planned to be launched in future phases.
Tom Quy, managing director of Acrisure London Wholesale, said: “Acrisure is a trusted advisor to approximately 5% of SMEs in the United States and Acrisure Connect is an important step forward, allowing these businesses to access the London market with the same level of sophistication and efficiency usually reserved for larger companies.
“By combining the deep expertise of Acrisure’s London wholesale team, Acrisure’s broad reach, and Verisk’s cutting-edge technology and data insights, we are delivering specialized London market solutions that serve small and medium-sized businesses in the U.S. and globally like never before.”
Tim Rayner, CEO General Insurance and Specialty Business Solutions UK & Ireland, highlighted this technology shift: “Verisk is proud to partner with Acrisure to launch Acrisure Connect, a platform that represents a significant development in the modernization drive for SMEs entering the London market.
“By combining our technology with Acrisure’s distribution strengths, we are able to unlock new opportunities and bring greater dynamism, accuracy and efficiency to the placement process. This partnership exemplifies how innovative technology can drive meaningful change in the insurance ecosystem. We look forward to working with Acrisure to refine this innovative platform to meet the dynamic needs of brokers and underwriters.”
Acrisure also confirmed that it plans to launch additional product lines in future phases to further expand market access.