Munich Re Partners with InsurTech Start-Up Wrisk
Insurtech company Wrisk Ltd., which was founded earlier this year, has entered into an agreement with Munich Re’s Digital Partners business unit.
Under the agreement, Munich Re companies become the exclusive carrier for Wrisk’s business underwritten in UK, Europe and USA. Digital Partners will also provide Wrisk with access to some of its underwriting platform services.
“From the start we have been determined to work with really high quality insurers. Therefore, we are delighted to be working in these territories with Munich Re,” said Nigel Barton, co-founder & CEO of London-based Wrisk.
“As an insurtech business, selecting the right carrier partner is absolutely crucial. In Digital Partners we are confident to have found a partner that shares our forward-looking mind-set when it comes to technology and innovation within the industry,” commented Wrisk co-founder & COO, Darius Kumana.
Andrew Rear, CEO of Digital Partners, added: “Digital Partners is a new Munich Re global venture designed to partner with digital disruptors who are changing the way insurance is experienced by customers. We are looking forward to working closely with Wrisk to enable them to offer a customized and holistic insurance proposition to the connected generation.”
Founded in early 2016, Wrisk is an insurtech venture that delivers motor, travel and home insurance directly through smart phones. “The benefit of connecting direct to customers through an app, is that it’s possible to improve the efficiency, accuracy and transparency of insurance,” which reduces costs and makes customers’ lives easier, said the company.
Digital Partners was launched in May 2016 by Munich Re in order to partner with digital insurance startups and digital verticals that are changing the way consumers interact with insurers. In addition to providing its global footprint and experience to its startup partners, it is helping them develop innovative product and distribution solution.
Source: Wrisk
Related:
- Betting on the Insurance Industry of Tomorrow at InsureTech Conference
- Munich Re Backs On-Demand Insurance Startup Trov’s Expansion in U.S. Market
- Munich Re Partners with Startup Slice to Offer On-Demand Insurance Products
- Florida Regulators Demand Data From Weiss Ratings After Recent Reports on Insurers
- Florida Citizens’ Brass Tired of ‘Clickbait’ News on its Hurricane Claims Denials
- Blacks and Hispanics Pay More for Auto Insurance. Study Tries to Answer Why.
- Commercial Lines Profit Growth: Execution Matters More Than Portfolio Mix