The deal will particularly provide further capacity for the insurtech group’s management liability and stand-alone D&O products.
Jacqueline McNamee, founder and CEO of C-Quence, said: “We are extremely pleased that Zurich has agreed to provide additional capacity for our financial lines products.
“Top rated capacity providers are key to our strategy of offering quality products and a market leading platform backed by A rated capacity.”
“We have been impressed by the technological capabilities of their C-Q Elements trading and underwriting platform which we believe provides a highly efficient and cost effective way of arranging cover for volume business.”
C-Quence also revealed it is adding a legal expenses coverage module to its property casualty product suite. Cover for this will be provided by ARAG plc, on behalf of AmTrust Europe Limited.
Gregory Firnau, head of Product Development at C-Quence, said: “When we launched our P&C product in March we indicated our intention to add a legal expenses coverage module.
“We are now thrilled to be partnering ARAG who have an excellent reputation in this field. Not only are we able to offer a wide scope of cover, but also a range of phone-based support services that our policyholders can rely on to help prevent disputes arising.”
Cover includes a range of insured events such as employment issues, tax disputes, property damage claims, compliance and regulation issues and other specified risks.
Colin Fennelly, ARAG’s City Account Manager, said “C-Quence is a great example of an Insurtech business leading the industry in terms of both product and technical innovation, which is why we are extremely pleased to be working with them.”
McNamee added, “These are tough times for brokers and their customers so it’s important that the industry rises to meet the challenges we currently face. Using technology to remove barriers to business is one way we can help.
“Our easy to use cloud based ‘quote to bind’ platform provides brokers the capability to service their clients as normal — even when they are working from home.”