At InsTech London’s 2nd April event Matthew Grant talked to Richard Coleman, Co-founder & Managing Director of new insurance company Archipelago Risk Services, and Justin Davies, Head of Region, EMEA, at Xceedance, who built the technology for Archipelago, and became an InsTech London corporate member in October 2018.
Archipelago are a new UK personal lines MGA with an objective of using insurtech to remove expense inefficiencies within distribution models. They aim to provide both intermediaries and policyholders with significantly improved experiences in initial transaction and claims responses. Richard Coleman says, “We’ve harnessed the power of primary data sources and new technology to create a bespoke Insurtech system - the Archipelago Platform. Clients should be able to change their cover as their needs grow, arrange it quickly and with much less fuss. We want to give clients more clarity on what they pay and the freedom to amend and upgrade without penalty.”
Archipelago brought in outsourced insurtech expertise in the guise of Boston-based Xceedance. Founded by Arun Balakrishnan in 2013, Justin Davies had been talking to Archipelago since 2015. Justin says, ‘We are absolutely looking for more companies to partner with who want MGA platforms.” In addition to Archipelago, Xceedance recently announced they are working with Boston-based Blue Zebra Insurance, as well announcing they’d partnered up with, and invested in, ChainThat, an insurance blockchain solutions provider.
The full conversation with Archipelago and Exceedance is available here or in the iTunes store.