Mr. Steve Menzies, Chairman, Applied Underwriters, has announced the launch of Innovation Risk, a new MGA platform that will focus on casualty, accident, and life underwriting operations using advanced, proprietary technologies and methods. The new enterprise, while firmly rooted in proven, traditional insurance fundamentals, will incorporate the enhanced approaches developed by Applied over three decades of successful research, development, and deployment of proprietary and patented underwriting methods which have created superior underwriting operations and profitable competitive advantages in the most difficult lines of business.

Indicating that initial deployments would be in the US and EU, drawing on the proven predictive analytics refined over decades at Applied, as well as new R&D over the past five years in biotech and in telephony data. Mr. Menzies noted: “Innovation Risk’s focus and competitive advantage lies in its ability to measure risk, and in this way, its value proposition rests squarely on traditional insurance practices. We fully expect Innovation Risk to quickly become the leader in proprietary insurance underwriting.”

He continued: “The establishment of United Risk a few years ago—today one of the top MGA platforms in the world—and now the establishment of Innovation Risk, underscore the position our greater organization enjoys as the fast-moving, go-to for corporate development and M&A in underwriting and distribution, especially given the extraordinary mapping we offer for investors, insurance partners, and proven entrepreneurs seeking a pathway for realizing growth and value.”

Mr. Menzies concluded: “Private ownership affords us flexibility, and so we are often able to consider business problems differently and to our advantage. We have the winning formula for powerful, autonomous decision-making across our organization, bound together by an ethic of hard work and achievement. Innovation Risk has a mission to cultivate the independent growth of each of its MGAs and MGUs according to each business’ own appropriate course, and our continuing and unprecedented aggregation of talent over the years tells it all.”