Managing General Agent Augmented, founded by former Rethink Underwriting CEO Daniel Prince, has launched, utilising digital underwriting tools and artificial intelligence to serve the smart follow insurance market.

Augmented says it will use AI-enhanced algorithmic underwriting to build digital relationships between insurance carriers and brokers in the growing smart-follow market. The smart-follow market is a strategy where follow underwriters use automated rules or processes to make decisions about which risks to underwrite.

Augmented has partnered with smart underwriting and placement insurtech Artificial Labs, which will provide technology and software tools for the newly-created entity. Prince said: “I am delighted to be able to announce the launch of Augmented, an MGA focussed on the broker and insurer relationship to create a more sustainable London Market.

“The London Market is not broken. It needs a steady hand to implement new technologies, such as AI, to enhance the way insurance operates. Efficiency and accuracy can replace manual process and human error. Brokers and carriers will, as a consequence, have a much smoother experience when doing business in the London insurance market.”

The start-up aims to bind its first risk in Q4 of 2025, initially targeting property and terrorism, before expanding into other lines in 2026.