WTW has engaged its affinity insurance business with insurtech Kayna to deliver solutions to SME clients in the UK and US through Vertical software-as-a-service (SaaS) platforms.
The partnership intends to provide full programme administration for US and UK-based industry-specific platforms in the construction, legal, salon/spa, fitness and field service sectors. WTW's specialist teams in these regions will lead the development and distribution of insurance products tailored to these platforms.
Paul Lubbers, head of Affinity and Programs US at WTW, remarks: “This is affinity insurance 2.0. Insurance at your fingertips, forms derived from the actual key data that informs insurance metrics, and a facilitated process that goes beyond the policy purchase to trigger alerts if coverage level needs to be updated to mitigate risk.”
Commenting on the partnership, Paul Prendergast, CEO and co-founder of Kayna, says: “This is all about driving lots of new types of data-led, automated, simplified insurance business, tapping into huge distribution opportunities and doing all the heavy lifting for vSaaS platforms and their customers.
“WTW powered by Kayna will be providing trusted full service, tailored insurance solutions direct to SMEs via platforms whose core business is not insurance but whose rich, curated SME data is the critical success factor in ensuring right-sized insurance cover.”
