AI-Driven MGA ‘Augmented UW’ Launches to Serve Smart-Follow Insurance Market
Augmented UW Ltd., an AI-powered managing general agent (MGA), has officially launched in London to support the smart-follow insurance market. Founded by Daniel Prince, a prominent figure in the London insurance scene and former CEO of Rethink Underwriting, Augmented UW is positioned to bring AI-enhanced underwriting to the forefront.
Serving the Smart-Follow Market with AI
Augmented UW specializes in algorithmic underwriting that leverages artificial intelligence to strengthen digital connections between insurance carriers and brokers. The smart-follow market operates by allowing follow underwriters—those providing capacity alongside a lead underwriter—to use automated rules and processes to decide which risks to underwrite. This approach aims to streamline and optimize underwriting decisions.
Partnering with Artificial Labs, a smart underwriting and placement insurtech, Augmented UW will utilize their technology platform to deliver digital underwriting capabilities. This enables brokers in London to establish their own in-house follow panels, improving efficiency and control in risk placement.
Focus on Enhanced Underwriting and Lloyd’s Capacity
The MGA’s strategy combines data-driven underwriting propositions with Lloyd’s follow capacity to offer digital solutions that benefit broker partners. By integrating enhanced underwriting—which uses data and technology for better decision-making—Augmented UW aims to simplify operations for both brokers and carriers.
Daniel Prince commented on the launch: “The London market is not broken. It needs a steady hand to implement new technologies, such as AI, to enhance the way insurance operates. Efficiency and accuracy can replace manual processes and human error. Brokers and carriers will, as a consequence, have a much smoother experience when doing business in the London insurance market.”
Plans and Market Focus
- First risk binding is targeted for Q4 2025.
- Initial focus on property and terrorism lines.
- Expansion into additional lines expected in 2026.
Prince emphasized the value of the partnership with Artificial Labs, noting that their configurable platform accelerates the route to market. He added, “Combined with our own MGA and data expertise, we’re building a powerful proposition for brokers and carriers alike.”
The aim is for brokers to define their own placement strategies, with Augmented UW providing the digital infrastructure to support them. This approach is designed to be cost-effective, quick to implement, and highly configurable, meeting the needs of both brokers and insurers.
Modernizing London Market Infrastructure
Prince pointed out that while relationships between London brokers and insurers are strong, the market lacks modern infrastructure and efficient operations. Augmented UW does not intend to supply capacity panels directly but to offer the digital framework necessary for smoother trading.
This initiative signals a move towards greater automation and digitization in underwriting and risk placement, with AI playing a central role. For insurance professionals looking to keep pace with technological advances, understanding these developments could be valuable.
For those interested in AI applications in insurance and underwriting, exploring courses on AI tools and automation can provide practical insights. Resources like Complete AI Training’s latest AI courses offer relevant knowledge to stay updated with industry trends.
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