Phil Denman, CEO of Capacity Insights, talks to THIS about the journey to setting up a new MGA in the UK. And their plans to transform traditional models in the travel insurance space.
What led to the launch of Capacity Insights, and why now?
We felt that the brand needed to be more representative of where we were going.  We’ve been around for 18 years but our new exclusive underwriting facility needed a specific, defined brand platform. Moving to a single strategic insurer partner has been transformational for us and has given us the ability to build and deploy the quality of solution we have always wanted, but were unable to find in the open market.
What are the core focus areas for Capacity Insights in terms of your product offering? (And do you operate solely in the UK and in partnership with UK-based companies?)
We are focused on delegated schemes in travel, health, dental and PA. We are currently UK regulated and thus UK is our focus currently. That said we have already facilitated a pan-EU dental product in partnership with an international broker. If the opportunity is deserving we will always try and deliver.
How do you ensure hyper-personalisation, and why is this so important in today’s marketplace?
We absolutely believe in hyper-personalisation, but we also believe in the common pool. Too many insurers price in only one dimension when for say travel it is absolutely essential that schemes can weather the product’s natural volatility. We use as many available data sources as possible and couple these to intricate scheme designs to optimise price, product texture and commercial stability.
How do you use your underwriting capacity in the burgeoning embedded insurance space?
Traditional product designs rarely work for the embedded space. We work exhaustively on harmonising products to the sales journey, client type, brand, tech stack, data and compliance requirement. Fast, low-click transactions need carefully curated products and especially documents to provide the customer outcomes we all desire. 40-page pdf wordings have no place in our world anymore when voice and language models should be taking over!
What are you most looking forward to at this year’s INNOVATE THIS event?
We love the melting pot of people, sectors and specialisms that create a really interesting debate around topics that challenge us. I see 2 speed markets in many of our sectors where we lag behind what the technology can deliver and INNOVATE THIS is just the place to drive these issues forward, and create exciting new propositions and partnerships.
For more information:
Capacity Insights: Company Dental, Health & Travel Insurance
