Brightside Group’s subsidiary managing general agent,Kitsune Associates has started writing policies in private car and commercial vehicle.
Image: Brightside’s Kitsune Associates starts trading. Photo: Courtesy of everydayplus/FreeDigitalPhotos.net.
Kitsune plans to roll out to selected wholesale brokers during the first quarter of this year.
The company will be backed by Randall and Quilter (R&Q), through its subsidiary A- Rated European subsidiary Accredited (AIEL) and a panel of reinsurers and excess of loss providers.
Brightside Group CEO Brendan McCafferty said: “I’m absolutely thrilled that Kitsune has launched. The MGA is a critical component in the future success of Brightside Group and will help fulfil our key strategic aims of building scale, exploiting digital technology and focusing on niches.”
Kitsune partners include RDT for Policy Administration and Rating Engine (on Atlas Platform), Willis Towers Watson (Actuarial and Reserving Support), and CDL (policy fulfilment). WNS Assistance is responsible for handling claims.
Kitsune managing director Trevor Bowers said: “We have assembled a team of A list partners to deliver our vision of creating a virtual insurer. The Kitsune model combines high quality systems and hugely experienced people, with a heavy emphasis on new technology for data and analytics. Our aim is to deliver £20-25m of GWP within the next 12months.”
The executive team of Kitsune will include Trevor Bowers, underwriting and pricing director as Bruce Coxwell, Martin Cornwall (ex Ageas) for systems development and Chris Louch (ex-Slater & Gordon and Kennedy’s Solicitors) for claims management.
The company plans to roll out private car and commercial vehicle products to additional brokers on the CDL platform in the first quarter of this year and the commercial vehicle will go into Open GI before this summer.
Bowers said: “Diversification has been built into our operating model, both in servicing capability for more brokers and bringing new products onstream. A diversified, well managed portfolio is good for our partners and also good for capacity providers because it enables us to better manage profitability through the cycle.”
He continued saying: “We will explore the addition of other lines, such as SME, Taxi, Minibus and Fleet, where we will look to support Brightside’s insurer panels, through the Group’s successful One Insurance brand.”
The company was incorporated in January, 2017, with registered office located in Bristol, Gloucestershire. It has been dormant from the date of incorporation.