Arch Insurance North America has acquired analytics-driven managing general underwriter Ventus Risk Management.
Founded in 2016, Ventus aims to improve the automation, efficiency and risk selection for costal commercial property to small and medium-sized businesses. It’s automated submission acceptance and review system saves time, reduces error and tramlines underwriting processes.
By integrating with Arch Insurance, it will enable third-party capital to offer capacity alongside Arch’s product offerings.
Arch Insurance North America CEO Matt Shulman said, “Ventus is an InsurTech company that has successfully deployed its offerings to support its underwriters, deliver best-in-class analytics and modelling capabilities and provide a superior customer experience.
“When combined with the scale of our E&S property portfolio and breadth of our relationships, we will bring enhanced value to our wholesale distribution partners.”
Arch Insurance recently invested into MGA InsurTech startup Archipelago Risk Services, which offers personal lines insurance. The company protects home, motor, pet and residential investment property through its network of distribution partners.
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