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Customer Needs at the forefront of technology advancements

21.10.20

 

The recent Insurance Times MGA Survey provided over 1300 Brokers with the opportunity to raise concerns they have about the market at present. The survey results presented a recurring range of concerns including that of Technology, and in particular MGAs being “behind the times and less technologically advanced.”

At Prestige Underwriting, we very much feel this is a misconception, and in actual fact are extremely proud of the technical proposition of our business model. Our model is designed to deliver agility in footprint flexibility, pricing advantage for non-standard business and complementary support to incremental growth outside of the standard market. Over the years, we have committed significant investment in data and actuarial functionality to ensure that our pricing model is leading the way in the non-standard market.

Katy Peacock, Technical Manager at Prestige Underwriting commented “Behind the majority of Prestige’s recent technical changes is a desire to simplify and enhance the broker experience; using technology like Live Chat to make communication easier, while simplifying product question sets and policy wordings to make doing business with Prestige as straightforward as possible.”

We are very fortunate to have a long-standing relationship with Covernet, a leading insurance software provider, and are committed to working together to regularly assess the needs of our customers and providing the solutions as required to enhance the technological offering for the benefit of our Broking partners’.

Jim Campbell, Business Development Director at Covernet noted “Prestige are rightly recognised in the market for their long history of technical underwriting innovation; as long term partners, they have frequently challenged us to deliver the software solutions that have facilitated those innovations, and we are delighted they continue to innovate and challenge us today. Congratulations to all the team at Prestige for the excellent feedback they received in the recent MGA Survey, it is richly deserved.”

At Prestige Underwriting, it is imperative that the hybrid advances we have taken, and are committed to evolving as required, further enhance the broker experience as opposed to simply replacing it with technology.

Read more about Prestige here.