Guy Carpenter & Co., the reinsurance brokerage business of Marsh McLennan, announced the launch of the Guy Carpenter Insurtech Center of Excellence (COE) to provide comprehensive services to global re/insurance carriers and managing general agents (MGAs), powered through modern technology platforms.
The Insurtech COE will offer a broad range of reinsurance broking, advisory and analytical services customized for the bespoke needs of re/insurance carriers and MGAs operating on cutting-edge technology-driven platforms.
The COE will facilitate Guy Carpenter’s delivery of specialized capabilities for these clients and prospects, including market-entry analysis, portfolio construction, actuarial support, rating advisory and capital modeling.
Additionally, as part of its further expansion into the insurtech arena, effective Jan. 1, 2022, Guy Carpenter will expand its relationship with Celent, a leading financial technology analyst firm that is part of Marsh McLennan’s Oliver Wyman Group, focused on providing technology research and advisory services for insurers and other financial institutions globally. Through this arrangement, Celent will provide market-leading intelligence on insurance technology to Guy Carpenter’s clients.
The COE will build upon the successes that Guy Carpenter has achieved in the insurtech space, which began in 2018 with the creation of GC Genesis as an advisory offering. The company currently maintains a large portfolio of insurtech clients totaling nearly $3 billion in direct written premium (DWP), including many of the initial public offering (IPO) and special purpose acquisition companies (SPAC) transactions.
Leading the team from New York City, Max Aronchick brings many years of experience within Guy Carpenter. Aronchick has a strong track record in the P/C space and has led many key initiatives that brought innovative transactions to market, both with established carriers as well as tech-enabled underwriting entities. He has worked at Guy Carpenter for more than 10 years, according to his LinkedIn profile.
“The Insurtech COE positions Guy Carpenter at the forefront of the development of the tech-empowered insurance market,” said John Trace, CEO, North America, Guy Carpenter, in a statement. “By bringing together an extensive team of sector experts exclusively dedicated to this rapidly evolving environment, our aim is to provide the most relevant services and solutions, coupled with market insight and intelligence to support industry innovation.”
Will Garland, president, Centers of Excellence, Guy Carpenter, added: “The establishment of the Insurtech COE is a clear next step for Guy Carpenter. It will not only help us further strengthen the partnerships we have developed with numerous carriers and MGAs at the leading edge of insurtech, but also open up considerable new opportunities to grow our presence in this highly relevant space.”
Source: Guy Carpenter