Limited Company Augmented UW Holds Its Inaugural Launch
In the heart of the London insurance market, a new player is set to revolutionise the smart-follow segment. Augmented UW Ltd., founded by industry veteran Daniel Prince, aims to modernise the market through the use of artificial intelligence (AI) and digital underwriting tools [1][2][3].
The company's mission is to streamline and enhance the underwriting process, replacing manual, error-prone tasks with algorithmic decision-making. This approach targets increased efficiency and accuracy in the follow market, where capacity providers follow lead underwriters using automated rules rather than manual assessments [1][2].
To achieve this, Augmented has partnered with Artificial Labs, an insurtech specialist providing the underlying platform and software tools essential for Augmented’s AI-driven underwriting operations [1].
Augmented’s role involves enabling smarter, AI-powered underwriting decisions that optimise the relationship and workflow between brokers and insurers. By combining AI algorithms with real-time digital connectivity, the MGA plans to allow brokers to effectively “create their own in-house follow panels,” facilitating smoother, faster placement of risks with carriers [2][3].
This digital integration simplifies communication and transaction processing, aiming for a more sustainable and efficient London Market experience where brokers and carriers interact seamlessly [2][3].
The start-up plans to bind its first risk in Q4 of 2025, initially focusing on property and terrorism lines and intends to expand into more lines thereafter [1][2].
Meanwhile, Connect Underwriting Limited has also announced the launch of two new initiatives: Stability Risk UW Limited and BRICS UW. Both are London-based managing general agents (MGA) [4].
Stability Risk UW will initially write contingency, casualty, cyber, and financial lines on a global basis, while BRICS UW aims to provide capacity to emerging markets and act as a hub for international markets [4].
Stability Risk UW Limited is regulated by the UK Financial Conduct Authority, and both initiatives will operate in the insurance and reinsurance sector [4].
David King, Co-founder and Co-CEO at Artificial Labs, is proud to partner with Augmented, expressing his enthusiasm for the transformative potential of AI technology in the insurance industry [5].
In summary, Augmented UW Ltd. aims to play a pivotal role in modernising the London insurance market’s smart-follow segment through AI and digital tools, fostering closer, more efficient broker-carrier partnerships grounded in technology-enabled underwriting [1][2][3]. The launches of Stability Risk UW and BRICS UW by Connect Underwriting Limited further underscore the industry's growing embrace of technology-driven solutions.
- Augmented UW Ltd, through the use of AI and digital underwriting tools, strives to transform the London insurance market's smart-follow segment, facilitating efficient, AI-powered underwriting decisions that optimize broker-carrier partnerships.
- In collaboration with Artificial Labs, a insurtech specialist, Augmented UW Ltd plans to simplify communication and transaction processing by integrating AI algorithms with real-time digital connectivity, enabling brokers to create their own in-house follow panels.
- By intending to bind their first risk in Q4 of 2025 and initially focusing on property and terrorism lines, Augmented UW Ltd aspires to expand into more lines in the future, contributing to the growing industry trend of embracing technology-driven solutions, as shown by the launches of Stability Risk UW and BRICS UW by Connect Underwriting Limited.
