A new London-based platform has been launched targeting program owners and trading partners which its founder has said “will help to modernise the way the market interacts”.
Called Capacity Place, the platform is initially aimed at MGAs, program administrators, insurtechs, management teams, wholesale brokers, binder brokers, insurers and Lloyd’s underwriters for transacting binders, prior submit facilities, line slips and master policies.
“We are like any other marketplace – we match up demand with supply,” said Capacity Place’s CEO and founder Marco Del Carlo, who, according to his LinkedIn profile, was previously a founder and managing director of London-based MGA Tempo Underwriting.
Companies seeking capacity for their programs will post a listing on the platform, and providers can then scan through them to see if any of those on offer appeals. The capacity providers can search and view program listings and are recommended programs based on their risk appetite preferences.
De Carlo explained that Capacity Place will match up programs with any capacity providers interested in that program.
“We believe this is a unique product that will help to modernise the way the market interacts,” said Del Carlo.
“Many companies seeking capacity for their insurance programs are struggling with knowing which risk carriers to approach, how to approach them, what information is needed and how can they safeguard their commercially-sensitive information,” Del Carlo added.