McGill and Partners enters digital-first partnership with AXA XL
UK-based reinsurer McGill and Partners has formed a digital-first partnership with AXA XL's UK & Lloyd's Business.
The collaboration focuses on 'driving innovation and enhancing efficiency' in risk placement, according to a statement from McGill and Partners.
The initiative aligns AXA XL's risk appetite across multiple business lines with McGill and Partners' client portfolio.
By leveraging digital tools to identify in-scope risks, the partnership will streamline the placement and underwriting process, enabling faster quoting for clients.
McGill and Partners noted that AXA XL's underwriters will gain valuable insights into risk selection and exposure management through a customised dashboard, ensuring greater visibility while upholding underwriting standards.
McGill and Partners CEO Steve McGill said: 'We are thrilled to launch this partnership with AXA XL's UK & Lloyd's Business, who share our ambitions for a more efficient, innovative and digitally enabled insurance market.
'Our firm has been built on digital first principles, with a deep belief in the power of innovation to transform and improve outcomes for our clients. This partnership is another significant step which will enhance our clients' experience.'
The partnership aims to simplify the risk placement process by automating and aligning risk appetite, improving both the speed and ease of placement for clients.
Built on McGill and Partners' proprietary Underscore broking platform, the initiative has the potential to be extended to other partners in the future.
AXA XL, UK & Lloyd's CEO Sean McGovern stated: 'This collaboration is a significant step in our market connectivity and digital underwriting journey. It allows us to harness the power of structured data and digital connectivity to deploy capacity efficiently on a risk-by-risk basis.
'This partnership not only enhances our trading relationship with McGill and Partners but also strengthens our position to deliver exceptional value to clients in a competitive landscape.'
In February, McGill and Partners introduced an AI agent integrated into the Underscore platform, powered by Salesforce's AI system, Agentforce.
"McGill and Partners enters digital-first partnership with AXA XL " was originally created and published by Life Insurance International, a GlobalData owned brand.
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