The MGA has secured indemnity limits of up to £12.5 million for property and £10 million for public liability. Aurora has automated segments of the market that typically require human intervention, allowing instant quoting and binding for hundreds of trade types.
The offering is available to brokers and insurers online via Aurora’s insurance platform, which delivers a range of additional services and benefits. This includes allowing brokers to choose from modular and granular extra elements of cover. The launch follows Aurora’s recent management liability policy release in May, which was also developed in partnership with AXA.
Jan-Vincent Finn, (pictured), CEO and Co-Founder, said: “We believe that algorithmic lead and follow will very much become a material part of the future of the commercial line’s ecosystem.”
“Automating such a complex package of products where appetite, rules, and pricing are typically applied by an underwriter is a signal of Aurora’s intention to be part of this augmented and future-looking ecosystem,” Finn added.
Bijal Patel, Co-Founder and CTO, commented: “Delivering our algorithmic and data-led thesis for such a complex product set is an incredible milestone. We’re thankful to AXA for demonstrating their confidence in our algorithmic framework, making it easier and quicker for brokers and insureds to get quotes in real-time for more complex risk profiles.”
Aurora recently appointed Tom Willmore to a newly created broker-facing role at the beginning of the year. The company revealed it had onboarded over 20 brokers since the start of 2024. Finn said he was “delighted to work with brokers who want to be able to instantly place more complex risks and access our new AXA-based commercial combined offering.”
Source: Insurance Post
