The partnership will provide innovative insurance solutions to small and medium-sized enterprises (SMEs) in the UK and US, using Vertical Software-as-a-Service (vSaaS) platforms.
Vertical SaaS platforms offer industry-specific software solutions. Through this partnership, WTW and Kayna will manage and distribute tailored insurance programs for industry-focused platforms in sectors such as construction, legal, salon/spa, fitness, and field services.
WTW’s UK and US teams will develop and broker insurance products, including property, general liability, workers’ compensation, commercial auto, and umbrella liability coverages. By leveraging platform data, the partnership aims to streamline insurance distribution, boosting growth for vSaaS providers while offering SMEs relevant, accessible insurance solutions.
“This is Affinity Insurance 2.0”, said Paul Lubbers, Head of Affinity and Programs US at WTW. “Insurance at your fingertips, forms derived from the actual key data that informs insurance metrics, and a facilitated process that goes beyond the policy purchase to trigger alerts if coverage level needs to be updated to mitigate risk. Both WTW and Kayna are playing to our respective strengths in delivering a world-class solution that is set to play a pivotal role in our consumer and commercial programs across the US.”
Anthony Borgman, Head of Affinity GB at WTW concluded, “WTW Affinity have been able to add our unique value and expertise to the delivery of a data-led, end-to-end insurance service to not only deliver value but provide greater confidence to SME’s seeking appropriate levels of protection. I am delighted to see our UK Affinity capabilities expand in this exciting way and to have this opportunity to build on our partnership for the long-term.”
Commenting on the partnership, Paul Prendergast, CEO and Kayna co-founder, said, “This is all about driving lots of new types of data-led, automated, simplified insurance business, tapping into huge distribution opportunities and doing all the heavy lifting for vSaaS platforms and their customers.”
He added: “WTW powered by Kayna will be providing trusted full service, tailored insurance solutions direct to SMEs via platforms whose core business is not insurance but whose rich, curated SME data is the critical success factor in ensuring right-sized insurance cover.”
