A dedicated team who will focus purely on the development and distribution of digital products seemed a no-brainer, according to Tom Squires, AEGIS London’s Head of Digital Trading, who will lead the new group. Squires’ division will work alongside AEGIS’ underwriting teams to build new digital products and conceptualise and implement innovative new digital methods of distributing them to the international market.
“This marks the start of a new era for us,” said Nigel Roberts, AEGIS London’s Head of Distribution, to whom Tom Squires will report. “We’ll be running digital and traditional distribution chains in parallel, both backed by the underwriting expertise with which AEGIS London is synonymous.”
The decision to launch the new division was driven partly by the success of Opal, AEGIS London’s online quote-and-bind platform. “Opal has been a tremendous boost for us,” Squires said. “It’s grown our revenue and attracted a swathe of American and international business that wouldn’t otherwise have been cost-effective for a Lloyd’s insurer. It has opened our eyes to the possibilities, [which is] why we decided to create this new division, to bring together underwriting and digital distribution. It allows us to really explore the opportunities presented by the digital channel and take commercial advantage of them.”