Ventis, the commercial and residential real estate MGA backed by Mission Underwriters, today announced its upcoming launch on the Acturis e-trade platform. The strategic expansion will be headed by newly appointed Director of SME, Ian Newman and Jenny Attewell, SME Lead Underwriter.
Ventis will be issuing policies that cover up to 20 properties, with a total sum insured of up to £20m. Policies up to £10k can automatically be bound, with any quotes requiring a referral aiming to be handled within half an hour by the Ventis underwriting team.
Gareth Roberts, CEO of Ventis, commented on the launch: “This expansion is a landmark moment for Ventis. Both Jenny and Ian are experts in this sphere, with more than four decades of experience between them. By bringing in top of the range talent to develop our offering, we are looking to establish ourselves as the number one real estate provider to our partner brokers. We are very ambitious in this space and believe that our market-leading proposition will continue to deliver results across both our e-trade and our open market underwriting.”
Launch responds to identified market gap
Ventis’ core appetite for standard real estate risk lies in a policy value between £5,000 to £20,000. This is an area that falls awkwardly between the appetite of other MGAs and that of the largest insurers in the market. Ventis has identified this gap and is launching on Acturis in order to provide brokers with a differentiated offer in an underserved market segment.
We are hearing from brokers that the e-trade market is oversaturated below a policy value of around £5,000, with a dearth of quality capacity above that. Ventis’ tailored SME and mid-market real estate products have received a hugely positive reaction from the market since launching in December 2023. By bringing the same product through the e-trade platform where many brokers have established positions, we are looking to tap into that same underserved tranche.
Ian Newman, Director of SME at Ventis
Improves broker experience of Acturis
Ventis was founded on a principle of quality broker service. By offering the same products across the e-trade channel and through open market underwriting, Ventis will be able to deliver a consistency of business offering to its key broker partners, and give them the control over where and how they write their business.
Ventis has subscribed to Acturis Connect, which will enable more efficient updates to policy decisions for the Ventis team and more agility to respond to market and process changes, resulting in a better product for the end user.
At Acturis, we pride ourselves on being the primary marketplace for brokers looking to place their clients’ risks, and the addition of Ventis’ proposition to our Property Owners panel will offer additional value to many on the platform. By leveraging the power of Acturis Connect, Ventis will be able to translate their existing underwriting guidelines into the platform and adapt to the market’s and their brokers’ changing needs.
Simon De Ferry, Chief Insurance Products Officer at Acturis