IQUW Selects mea’s GenAI-Powered Platform to Enhance Service Proposition
London, October 2024 – Property and Specialty insurer and reinsurer IQUW has announced a strategic partnership with mea, implementing their advanced AI powered processing platform to revolutionise underwriting efficiency across IQUW’s (re)insurance operations. The partnership will enhance IQUW’s underwriting productivity and improve service as the (re)insurer continues to focus on delivering seamless broker experiences.
The partnership, which is currently live within IQUW’s Director and Officer product and is rolling-out across all lines of business in the coming months, implements mea’s cutting-edge Generative AI solution, and marks a significant advancement in IQUW’s underwriting service proposition. By leveraging mea’s advanced natural language processing and machine learning, IQUW’s underwriters can now automatically convert unstructured submission data into actionable insights, dramatically accelerating risk assessment and decision-making processes.
IQUW Group CEO, Peter Bilsby commented: “We’re committed to combining intelligent automation and underwriting expertise to maintain our competitive edge and make trading with IQUW seamlessly simple. The implementation of mea’s platform represents an important step in our underwriting journey, enabling our teams to provide significantly faster response times to brokers, whilst maintaining our high standards of risk assessment. The ability to process submissions at a significantly increased rate will represent a game-changing efficiency gain for our underwriting teams and our overall broker service proposition.”
Speaking about the new partnership, Graeme Asquith, UK Managing Director at mea platform, stated: “We are excited to embark on this new partnership with IQUW and are looking forward to what we can achieve together. This agreement is a testament to our mutual commitment to providing transformative solutions and exceeding our clients’ expectations. We’ve recently signed deals with some of the largest players in the (re)insurance market, and this latest partnership with IQUW highlights the strength of our offering.”
About IQUW:
IQUW is a growing Property and Specialty insurance and reinsurance Lloyd’s syndicate and part of IQUW Group. We combine data, intelligent automation and human expertise to make fast, informed decisions to make every risk seamlessly simple for our brokers.
Our portfolio comprises of 16 Property and Specialty insurance and reinsurance products.
These range from Aviation, Directors & Officers and Crisis Management through to Cyber, Energy and Marine. Our empowered underwriters aim to remove the friction from day-to-day trading by providing rapid responses, an initial risk assessment and an alternative view, if needed, to help our brokers respond swiftly to their clients.
We are the new generation of (re)insurers who believe that the combination of technology, data and human expertise will deliver outstanding service leading to great outcomes for our brokers, partners and clients.
For further media information, contact:
Jonathan Watson, Chief Sales and Marketing Officer jonathan.watson@iquw.com
James Milne, Rein4ce james.milnes@rein4ce.co.uk
+44 (0)7867484854
About mea platform:
mea is a GenAI-powered global platform that simplifies insurance processes. Its intelligent platform automates essential activities, enabling insurers, brokers, and MGAs to focus on their competitive edge. Designed by insurance professionals, mea boosts productivity and protects combined ratios and margins by providing the right data in the right format at the right time. By making insurance processes more intuitive, mea reduces operating costs and increases revenue. Founded by a team of insurance veterans and tech experts, mea addresses industry challenges, allowing insurers, brokers, and MGAs to concentrate on business growth. For more information about mea platform, please visit meaplatform.com.
For more information, contact: hello@meaplatform.com
