Insurance and reinsurance brokering group Gallagher has introduced a new product line within its Evolve placement strategy, which offers automatic, immediate and bespoke coverage for Conventional Power clients around the world.
Evolve, powered by InsurX’s smart follow technology, is multi-line portfolio tracker solution launched in February last year which unlocks seamless follow-form capacity for Gallagher clients.
It offers coverage for a wide range of industries and geographies across a number of classes of business including US and international property, casualty, accident & health and bloodstock & aquaculture.
Gallagher’s brokers can now get quotes from insurer partners in minutes with a single email, leading to improved results for their clients.
Through this, insurer partners can have a precise understanding of every risk traded with InsurX’s technology so they can confidently support Gallagher’s clients, the firm explained.
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Jon Parker, Chairman of Power, Gallagher said: “The new Evolve Power facility is great for our clients as it provides a streamlined solution for placement of follow lines and gives access to accretive Lloyd’s capacity not available in the open market.
“As long as the risks meet a simple set of acceptance criteria, Evolve will unlock additional automatic follow capacity, allowing our brokers to focus on driving the best deal on open market lines for our power clients.
“Evolve provides significant benefits to Gallagher clients and provides a platform for further growth for both Gallagher and the insurers involved, and we are excited to bring the ensuing benefits of this partnership to our Power clients.”
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