- Strengthened branding, website and brochure launched to coincide with MGAA Broker Exchange
- Aspect also announces increase in property underwriting line-size with additional capacity from Lloyds’ syndicates alongside capacity for Property Owners Liability
- Brand launch reflects the team’s ambition to become the go-to player for brokers with high-hazard mid-market business.
From a stand at this year’s Managing General Agents Association (MGAA) Broker Exchange in London Aspect, the specialist MGA, today announces a refreshed brand and broader range of product capabilities.
Aspect unveiled a new website to brokers at the MGAA, as the team also announced a widening of underwriting capabilities. Aspect can now underwrite property risks with a line size of up to £19 million, a dramatic increase on the £3 million limit seen at launch in 2023.
Additionally, Aspect now has a combined offering with Property Owners’ Liability also available in the UK and Ireland, and EL/PL/Products coming next month.
The expanded product offering that Aspect is making available to brokers follows a strong 2024 for the start-up which saw GWP growth approaching 50%, to reach almost £25 million annually, and the inking of several capacity deals with Lloyds’ syndicates.
The high-hazard specialists have worked closely with brokers to remove key pain points from placements including a streamlined claims handling process, to enable lower deductibles, and waiving all risk survey fees.
Aspect is quickly making a name for itself in the industry as a team of specialist underwriters that run toward the risks that others shy away from. Recent months have seen Aspect write risks ranging from pallet manufactures in Belgium to a pilot project for hydrogen power in Birmingham, and from recycling contractors in the Netherlands to distressed residential units in Nottingham.
With the new brand and deeper product capabilities, Aspect has a bold ambition to become the insurer of choice for a range of high-hazard mid-market businesses. To deliver this, Aspect has built a dedicated team internally to solely work on developing a number of tech solutions designed to make broker’s lives easier and streamline decision making.
Commenting from the MGAA Broker Exchange, Oli Williamson, Co-Founder and Chief Underwriting Officer at Aspect said:
“In many ways the insurance industry has yet to catch-up with a whole range of dynamics. Whether it’s an unwillingness to consider prototype projects that support the transition to a net zero economy or to grapple with the current realities around housing for asylum seekers, the industry is proving slow to adapt.”
“This is leaving many vital businesses struggling for cover. Our book is growing off the back of our willingness to run toward the risks that the rest of the industry won’t and back the many thousands of mid-market customers out there working in high-risk sectors and lacking the comprehensive cover they need to succeed and drive economic growth across the UK and Europe.”
“With our refreshed brand, we’re signalling our ambition to become the insurer of choice for high-hazard mid-market businesses and offer a streamlined, service-focussed approach to underwriting that judges each risk on its merits, which is currently missing from the market.”
ENDS
PR contact
Liam Thompson
Global Head of Content
+44(0)7890315537
www.roselygroup.com/