ING, a global banking group, has become a managing general agent (MGA) as part of a new insurance strategy powered by InsurTech platform Qover.
Under the new model, ING will take a more direct role in insurance distribution and servicing, enabling the bank to accept applications, collect premiums and manage claims for its customers.
Previously, ING’s 800,000 insurance customers could purchase policies through the bank but had to interact directly with the underlying insurer for servicing and claims. The new MGA structure brings those processes into ING’s own customer experience.
The technology infrastructure supporting the initiative is provided by Qover, which acts as the orchestration layer connecting insurers, products and operational workflows into a single platform.
Through the system, ING can manage multiple insurers and insurance products while delivering a unified digital experience to customers.
Quentin Colmant, CEO and co-founder of Qover, said: “When we introduced embedded insurance orchestration to the market in 2022, this is exactly the kind of partnership we had in mind. ING focuses on serving customers. The insurers focus on underwriting risk. And we orchestrate the capabilities that bring it all together. This was one of the most complex programs we’ve ever delivered – and it’s a genuine validation of what this technology can do at scale.”
The move reflects a broader shift in the financial services industry toward embedded insurance models, where banks and digital platforms integrate insurance services directly into their customer ecosystems while relying on insurers for underwriting capacity.
By adopting an MGA structure supported by Qover’s orchestration technology, ING aims to simplify the insurance journey while maintaining access to multiple insurance providers behind the scenes.
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