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GI Partners Unveils Innovative Tech-Driven MGA Platform Led by Industry Veterans
GI Partners has launched a tech-enabled managing general agency (MGA) platform aimed at acquiring and expanding a diverse portfolio of MGAs, with a focus on quality underwriting and technology-driven operations. Led by industry veterans Brad Emmons and Brian Hanuschak, the initiative seeks to enhance growth and innovation within the insurance sector. Emmons, co-founder of Orchid Underwriters, and Hanuschak, former CEO of Victor Insurance Managers, emphasize the importance of specialized underwriting and scalable technology. GI Partners is exploring opportunities in the MGA market, collaborating with experienced leaders to redefine operational standards and improve service delivery.
Revolutionizing Property Risk Assessment: Cytora and LightBox Join Forces to Empower Insurers
UK InsurTech leader Cytora has partnered with US property data expert LightBox to revolutionize property risk assessment for insurance companies. This collaboration integrates Cytora’s digital risk processing platform with LightBox’s extensive property data network, streamlining underwriting and providing real-time insights into property characteristics. Key benefits include enhanced risk intake, improved decision-making, and AI features for better transparency. Cytora’s Head of North America, Zaheer Hooda, highlighted the importance of accessing cutting-edge property intelligence for accurate risk assessment. This partnership aims to set a new standard in the insurance industry by combining technology and comprehensive property data.
US-Based R.E. Chaix Leverages IntellectAI’s Underwriting Platform for Scalable Operations
R.E. Chaix, a leading US wholesale insurance brokerage, has partnered with IntellectAI to implement the eMACH.ai Xponent underwriting platform, aiming to enhance operational efficiency and customer service in the competitive insurance market. This collaboration will automate critical processes, allowing underwriters to make faster, informed decisions and meet growing demands for speed and accuracy. Tim Chaix, CEO of R.E. Chaix, praised IntellectAI’s capabilities, emphasizing the importance of advanced technology in the evolving insurance landscape. IntellectAI’s CEO, Banesh Prabhu, expressed excitement about empowering R.E. Chaix to set new standards in intelligent underwriting and service responsiveness.
Parsyl Secures $20M in Series C Funding to Revolutionize Cargo Insurance Solutions
Parsyl, a US and London-based cargo insurance provider, has raised $20 million in a Series C funding round led by The Lightsmith Group, with participation from other investors like HSCM Ventures and GLP Capital Partners. Founded in 2017, Parsyl aims to enhance marine cargo coverage for goods in storage and transit. The funding will be used to strengthen their team and technology, expand underwriting capabilities, develop new insurance products, and enter new markets. CEO Ben Hubbard expressed excitement about the investment, highlighting its importance for innovation and climate resilience in supporting global supply chains. Parsyl has raised a total of $66 million to date.
Acera Insurance Welcomes Hugh Watt as New COO to Drive Strategic Growth
Acera Insurance has appointed Hugh Watt as its new Chief Operating Officer, effective May 1, 2025, to enhance its growth strategy through acquisitions and operational improvements. With over 20 years of experience in the insurance sector, including leadership roles at Intersure and NFP, Watt aligns with Acera’s focus on employee ownership and client value. CEO Lee Rogers highlighted Watt’s expertise in driving organizational growth. Watt expressed enthusiasm about collaborating with the team to refine client services and contribute to the independent brokerage space. This leadership change marks a significant step for Acera in strengthening its position in the Canadian insurance market.