NIIT to help Gallagher MGA in US and UK 

Indian technology giant NIIT Technologies Limited has won a major deal with Gallagher-owned MGA Pen Underwriting.

Pen, part of the Gallagher group led by US chief executive Pat Gallagher (pictured) from Chicago, will use the firm’s Exact software to monitor and manage its risk exposure across territories.

The first phase of implementation is complete in North America and now the £500m premium UK business is in line for the gear.

Pen Underwriting chief operating officer Matthew Unsworth said: “As a multi-class, multi-territory MGA, we operate a virtual insurer model, providing a range of value-added services across analytics and pricing, which complement and support our product set and distribution. We needed a system that would work across a wide range of Pen’s book of business and NIIT Technologies was a great fit.”

Executive Vice-President Adrian Morgan, executive vice-president and Head of NIIT Technologies said: “They were looking for a solution that could quantify Pen’s total non-modelled CAT risk exposure and simulate scenarios across a range of propositions, and that is one of Exact’s strengths.

”MGAs are a new and growing market segment for us and we are delighted to have won this business.”

Last month, Insurance Times/IMAS Top 50 Brokers revealed that Gallagher’s UK business is the third largest in the country.