There is a new claims company in the UK after speciality MGA Nexus Underwriting today announced the launch of an independent firm trading as Nexus Claims.
Offering claims management services to not only Nexus’s underwriting partners, but also to syndicates, insurance companies and other MGAs that do not have their own claims operations, or simply prefer to outsource some of their claims capabilities, the firm will attempt to provide specialist expertise under the guidance of Nexus Group’s chief legal officer Adam Kembrooke.
Kembrooke said Nexus Claims’ aim is to provide innovative and best in class specialty claims services.
“Our focus is on a technical and highly proactive approach to obtain market-beating results in terms of speed of resolution, service standards and, ultimately, underwriting profit,” he said.
Despite being in its infancy, Nexus Claims has already secured agreements to manage claims emanating from more than 50% of the group’s $200mGWP portfolio as well as acting as a third party administrator for 14 other non-affiliated MGAs across the UK, Europe and the Middle East. It has also signed a claims management agreement with PartnerRe Ireland Insurance dac.
“We are delighted about strengthening an already exceptional relationship with PartnerRe and look forward to building on this latest development even further in the future,” said Colin Thompson (pictured), founder and group executive chairman, Nexus Underwriting Management Limited.
“We have ambitious group goals and have consistently performed in the top tier for underwriting results ever since our launch eight years ago. We aim to replicate that success with Nexus Claims, which allows us to offer a complete service solution not only to reach those goals but to enhance the profitability of the results every step of the way for us and our underwriting partners.”
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