In a significant moment in its own history, DUAL has announced that it will start to deploy underwriting capital alongside that of its existing capacity providers.
“This is a game-changing moment for DUAL,” said David Howden, CEO of DUAL parent Hyperion Group. “Now, by providing capital to DUAL, we move to the next stage of our underwriting journey at an exciting time for the group when we have also welcomed a new investor. I am thrilled that with this announcement DUAL takes the lead in defining what the underwriting business of the future looks like.”
From November this year, Alan Telford will join the firm as chief underwriting officer, reporting to DUAL CEO Richard Clapham – a move the company believes will further bolster its bench strength and allow it to focus on its strategic priorities as it develops further.
“Over the last four years we have made significant investments in our actuarial and analytical capabilities, as well as our service infrastructure and technology, to build out an agile and scaleable underwriting platform with efficiency and performance centre stage,” said Clapham. “This has been critical on our path to continually dialling up the provision of innovative and expert underwriting and dialling down the frictional costs of insurance.
“DUAL’s long-term partnerships with its capacity providers, some of which stretch back over two decades, have been critical to its success. The group’s commitment to providing capital to DUAL is the next step in the bonding of these long-term relationships.
“I am delighted to welcome Alan as chief underwriting officer. He brings not only his wealth of experience but also his deep understanding of DUAL from his previous role as CUO, commercial, at Liberty Specialty Markets, one of DUAL’s long-term capacity providers. He could not join us at a more exciting time.”