Underwriter launches to improve broker profits

Underwriter launches to improve broker profits | Insurance Business

Underwriter launches to improve broker profits
A new underwriter has launched with the aim of introducing state-of-the-art practices which could increase profitability for brokers in the owner-builder sector.

Part of Guild Insurance, Qiducia Underwriting launched last week and will focus on providing brokers and ARs with efficient and effective owner-builder solutions as the market continues to grow.

The new business boasts an experienced underwriting team with a history in the owner-builder sector and an end-to-end broker interface which works with core broker transaction systems in a bid to improve efficiency and time management.

Maha Raslan, head of underwriting at Qiducia said the business understands the owner-builder sector and this understanding will help brokers in a sometimes difficult market.

“Qiducia inherently are underwriters who understand owner building risks,” Raslan said.

Raslan stressed that the business promises a quicker process that will aid brokers in a non-renewable sector.

“Our promise to brokers and AR’s is simple; sustaining growth and profitability in non-renewable business requires low operational touch, fast quote and bind processing,” Raslan continued.

“This requires seamless back office administration, banking and reconciliation.

“In addition, quality of security including their affinity with the insured’s profile and requirements is critical.

“Qiducia is perfectly balanced in this regard.”

The business model will offer “broker commissions that break tired, outdated traditional modes,” the company said in a statement as the business looks to free up time spent by brokers and ARs on administration and back-office tasks.