London-based company NuVenture is seeking to attract MGAs to its new platform, launched in partnership with consulting, managed services and technology specialist Xceedance. The first MGAs to use the platform is expected to be operational within the coming weeks.

NuVenture will provide funding to founding underwriters, who will retain a significant equity stake in their MGAs and have access to proprietary, MGA-customised technology.

Andy Colbran, CEO of NuVenture, said: “With the right investment in technology and extensive professional services support, I’ve long believed the MGA model can bring great value to brokers, capacity providers, and clients. Additionally, by using relevant data sources, MGAs can effectively streamline the underwriting process without compromising on quality.

“Our first MGAs will be operational within the next month and we want to build a pipeline of experienced underwriters and businesspeople to join NuVenture in the coming months and years.”

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