McGill and AIG launch AI-driven capacity partnership

American International Group (AIG) and McGill and Partners have launched a strategic collaboration aimed at reshaping how insurance capacity is deployed in the subscription market.

The agreement will see AIG provide long-term capacity to McGill’s specialty clients, supported by data-driven underwriting and agentic AI tools.

Under the arrangement, AIG conducted a detailed analysis of McGill’s specialty portfolio and developed underwriting criteria enabling real-time underwriting through the broker’s digital platform.

As a result, AIG expects to deploy capacity of around 25% across up to $1.6bn of McGill and Partners’ specialty gross premium written portfolio.

The partnership relies on McGill and Partners’ digital broking platform and advanced analytics capabilities, which enabled AIG to assess the portfolio and build an AI-supported approach to managing the performance of the capacity over time.

AIG worked with Palantir Technologies to develop an ontology of McGill and Partners’ portfolio.

Using Palantir’s Foundry platform alongside the broker’s technology, the insurer will gain near real-time insights into exposure levels, limit deployment, modelled risk outputs and loss information.

The companies said the collaboration sets a new benchmark for pre-secured capacity in specialty insurance markets.

Steve McGill, CEO of McGill and Partners, said: “This collaboration has the potential to disrupt the dynamics of the subscription market.”

He added: “It strengthens the value proposition of leading underwriters in the market and redefines the way capacity is positioned in the best interests of our clients. This moves beyond incremental change, and repositions the way the market operates in the future.”

Peter Zaffino, chairman and CEO of AIG, said the initiative reflects the growing role of AI in underwriting and portfolio management.

“The rapid evolution of AI and large language models is reshaping risk analytics, giving us the ability to continuously learn from McGill and Partners’ portfolio and deploy capacity with greater insight, discipline and speed,” Zaffino said.

“By using McGill and Partners’ robust data ingestion capabilities along with Palantir’s Foundry platform, we are able to evaluate their portfolio to align with our risk appetite, and over time, we see significant opportunity to deliver greater efficiency to the subscription market while giving clients easier access to high-quality insurance solutions,” he added.