Pro MGA Solutions, the dedicated global distribution services and MGA incubator brand of reinsurance outsourcing and consulting specialist Pro Global Holdings, has extended its strategic partnership in the UK with insurtech firm QOMPLX by supporting the launch of a new parametric product.
Qomplex’s parametric multi-peril insurance product, called WonderCover, was developed together with specialty reinsurance group Chaucer and provides SMEs with business interruption cover in the form of an automatic payment once a pre-determined cyber or terrorism event trigger has taken place.
Read more: Chaucer launches multi-peril parametric insurance product for SMEs
“We are delighted to support Qomplex in their launch of WonderCover – a truly innovative product developed in partnership with a leading global specialty insurer that addresses a significant gap in the market,” said Danny Maleary (pictured), chief executive officer of Pro MGA. “The growth of innovative technology-powered solutions is critical to the future of the insurance sector, and WonderCover is the perfect example of non-traditional, custom cyber and terrorism cover that solves fundamental challenges for insureds that traditional insurance is not delivering.”
