London, 06 September, 2019: Global re/insurance outsourcing and consulting specialist Pro Global Holdings Limited (‘Pro’) is delighted to announce that its dedicated distribution services and managing general agency incubator unit, Pro MGA Solutions Inc (‘Pro MGA Solutions’), has formed a strategic partnership in the U.S with intelligent decision platform provider QOMPLX Inc. (QOMPLX).
QOMPLX introduced its U.K. based MGA providing underwriting services through Pro’s U.K based MGA incubator earlier this year. Its first product provides insureds with one single and simple insurance policy for multiple perils.
The QOMPLX MGA uses the QOMPLX:INSURANCE decision platform to create an integrated data-driven underwriting platform.
Through the partnership with Pro, this capability will be extended to Pro and QOMPLX’s respective U.S operations, where the focus is on the growth of technology-based solutions in the MGA sector.
The move follows Pro’s launch into the distribution services sector in the U.K and the U.S earlier this year through the acquisition of MGA incubator platform Vibe MGA Management (‘VibeMM’) in London, U.K - a deal which has now received regulatory approval from the U.K Financial Conduct Authority - and through the formation of Pro MGA Solutions Inc, based in York, PA, U.S.
Artur Niemczewski, CEO of Pro, said: “A strategic partnership between QOMPLX and Pro has the hallmarks of a perfect match - we have been hugely impressed with the innovative, forward-thinking and client-first approach that QOMPLX have taken in developing a data-driven MGA solution, and look forward to expanding this concept in partnership with our ‘MGAs to Order’ initiative in the U.S, with a strong Trans-Atlantic value proposition.
Embracing technology, streamlining processes and expanding our global MGA capabilities are the clear direction of travel for Pro, fuelled by strong demand from ambitious underwriters for entrepreneurial platforms for growth. We are looking forward to further expansion in Europe in the coming months, so watch this space.”
Danny Maleary, CEO of Pro’s U.K MGA incubator, added: “Our regulatory green light ensures our business is poised to expand our combined expertise and the global concept of MGA management responding to strong demand for global reach, expert service and growth support capabilities.
This paves the way for VibeMM to soon rebrand and continue its dynamic growth journey as a combined entity, responding to strong demand for global reach, expert service and growth support capabilities in this space.”
Alastair Speare-Cole, President and General Manager of QOMPLX:INSURANCE said: “I'm very pleased to be embarking on this strategic partnership with Pro.The traditional underwriter-driven MGA creation journey is evolving, and cost-effective, data-driven MGA structures are going to drive growth. We are very pleased to be embarking on this strategic partnership with Pro.”
Dr Raveem Ismail, General Manager of QOMPLX’s U.K. MGA said: “The ability to utilise our technology to enhance customer driven service, coupled with the experience and capabilities of Pro has created an exciting and unique proposition. We will work closely with capacity and develop unique distribution channels for insurance products across multiple territories.”
Alastair Speare-Cole Dr.Raveem Ismail Danny Maleary
Notes for Editors - About Pro Global
Pro is a leading international consultancy and service provider that focuses on delivering flexible outsourcing solutions for live and run-off business, operational consultancy and audit services exclusively to the global insurance industry.
Founded in 1993, Pro has some 160 clients spanning the global insurance market, including insurers, reinsurers, brokers, lawyers and corporate investors.
The company has over 500 employees around the world, with recent geographic expansion in Germany and North America. Pro has offices in London, Cologne, Zurich, New York and Buenos Aires, all supported by regional delivery centres, enabling Pro to act for clients across multiple markets, cultures and territories.
For more information, please visit: www.pro-global.com.
QOMPLX (formerly Fractal Industries) makes it faster and easier for organizations to integrate all of the disparate data sources across the enterprise into a unified analytics infrastructure to make better decisions at scale. This broader analytics infrastructure is provided through QOMPLX OS, an enterprise operating system that powers QOMPLX's decision platforms in cybersecurity, insurance, and quantitative finance. Headquartered in Reston, VA, QOMPLX also has offices in New York and London. More information about QOMPLX can be found at www.qomplx.com.
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