The first MGA launched under the NuVenture banner aims ’to reinvent the broker and client experience for mid and HNW personal lines business’
A new MGA called Hoxton Insurance Services, which trades exclusively with brokers, has been launched by MGA specialist NuVenture International Ltd.
Supported by capacity from insurer Hiscox, Hoxton Insurance Services has digitised and automated the underwriting process to simplify data input, shorten question sets and help reduce the risks of underinsurance.
The new digital proposition will focus on mid and high net worth (HNW) personal lines insurance in the UK - the MGA aims to simplify the customer experience and make brokers’ lives easier within this sector.
Justin Gott, Hoxton Insurance Services’ managing director, said: “Hoxton Insurance Services delivers an elegant digital solution for brokers and their clients and aims to improve on every stage of the insurance process — from placement through to renewal and claims.
”We want to reinvent the broker and client experience for mid and HNW personal lines business.
“With capacity provided by leading specialist insurer Hiscox, our innovative proposition is sold exclusively through brokers and gives them the opportunity to develop their personal lines business with modern technology, excellent products and great service.
”Clients benefit from all their insurance needs being consolidated under a single policy with a single renewal date, a light-touch renewal process and an interest free, monthly direct debit payment plan.”
Setting the standard
Hoxton Insurance Services will offer protection for homes, possessions, fine art, valuables, cars, travel and investment properties.
Its digital proposition provides clients with a single policy that covers all selected insurance products, offers a simplified quote and buy journey, full lifecycle policy management and uses a web-based trading platform for brokers.
Speaking about the launch, Andy Colbran, chief executive of NuVenture, said: “Hoxton Insurance Services is the first MGA launched under the NuVenture banner and sets the standard for the digital transformation NuVenture is to be known for.
“In addition to offering quality personal lines insurance, Hoxton Insurance Services responds to the needs of all stakeholders, including brokers looking for fresh, new options and capacity providers.”