Pikl has announced the launch of a new MGA in partnership with First Underwriting, Accredited Insurance, and the Claims Consortium Group.
The partnership aims to provide the sharing economy insurance specialist with flexible underwriting capacity for a range of property and vehicle products.
It will also enable the group to operate a “nimble” product development approach allowing products to potentially be brought to market in weeks.
Accredited Insurance (Europe) limited have provided the ‘A’ rated capacity, which will be accessed through Accredited’s relationship with First Underwriting.
Pikl will work alongside First Underwriting to develop and refine a range of new and existing solutions for the sharing economy, in a move that will complement the existing partnership Pikl announced last year with Hiscox.
Louise Birritteri, CEO and founder of Pikl said: “I am delighted that we have launched the MGA and partnership with a group of credible and respected operators in the insurance sector.
“Both the teams at Pikl and First Underwriting have a great deal of insurance expertise and our collective skill sets will provide a powerful combination as we continue to scale.
She added: “As we enter the next stage of our journey it was incredibly important for us to find the right partners who could work flexibly and at pace.
“Our ambition is to be the market leader for Sharing Economy insurance products in both the property and vehicle lines. Our learnings from working in the property sharing market over the past three years has prepared us well to enter the vehicle sharing sector later this year.”
Mark Bacon, managing director of First Underwriting said: “We’re delighted to be partnering with Pikl who are developing innovative insurance products to cater for the growing and specialist needs of the sharing economy.
“It’s certainly a very exciting part of the insurance market that presents new and interesting challenges for insurers. Working with Pikl means that we have a partner that genuinely understands its chosen markets and will be well positioned to make the most of the opportunities it will present.”