C-Quence announces Sompo as new P&C Capacity Provider

S Muir 17.06.2024
Digital MGA C-Quence today announces the addition of Sompo as Capacity Provider for its Property Casualty and Property Owners propositions.
Jacqueline McNamee, founder and CEO of C-Quence commented, “We are delighted to be partnering with Sompo, one of the most respected A+ financial strength rated carriers in the international Property and Casualty market.  We both have similar ambitions for expansion in the UK P&C SME and mid-market sectors.
“Our new capacity agreement means we can better serve Brokers’ needs with a broad risk appetite coupled with the precision of our algorithmic underwriting and extensive third-party data capabilities.  In addition, this new agreement enables us to bring our unique digital solutions to the Schemes and Facilities sector.”
Bob Thaker, CEO, Commercial P&C Insurance, Sompo, UK, said: “C-Quence is a great fit for us given its innovative approach to serving SME and mid-market clients through its diversified broker network.  Its data driven technology supports underwriting excellence that is powering a growing, high-quality P&C and Property Owners portfolio.”
Schemes & Facilities
C-Quence will now have greater scope to apply their proprietary Schemes & Facilities technology for Brokers who have access to defined customer or industry groups and wish to better serve those customers.
McNamee explains, “Our technology means Brokers wishing to develop a specific opportunity by offering a unique solution or simplified application process for their target market can quickly set up an exclusive scheme or facility with bespoke product rules and terms as well as competitive pricing, simply by accessing our easy-to-use trading platform.
“Our ‘customisation by configurable toolkit’ means we create tailored schemes in weeks – a fraction of the time the market is used to, making it easy for Brokers to establish a competitive advantage. Our proposition is also supported by advanced lifecycle automation using robotics and our data analytics infrastructure for volume business.”
Automated Submission Ingestion
Brokers with more complex P&C or Property Owners risks including those with multiple premises can also rely on C-Quence’s technology solution to ‘drag and drop’ submissions into the CQ Elements trading platform for quotes delivered in seconds.
McNamee adds, “We created C-Quence’s end-to-end technology infrastructure to deliver powerful, transformative and highly efficient ways of trading and servicing mid-market commercial insurance -- that bring economic benefits to all parties involved.  Everything we do is designed to improve Brokers’ experience of placing and servicing risks. Our partnership with Sompo is another critical step on our exciting journey.”


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