OneAdvent, the specialist MGA incubator, has launched high-value asset MGA, Collective, which provides tailored insurance products to photographers and musicians.
The new MGA protects high value equipment against gaps left by standard home contents policies where coverage often fails when items are used away from home, shared with others, or subject to low single-item limits. The business intends to expand into additional niche markets, targeting assets that require specialist protection beyond traditional contents insurance.
The MGA leverages embedded distribution, partnering with retailers to offer insurance at the point of purchase. Designed for real world use at home, on the move and around the world.
OneAdvent will support the MGA with the vital regulatory, compliance and business support that provides credibility to Collective’s product offering. Insurance is underwritten by Great American International Insurance (UK) Ltd which is A+ rated by Standard & Poor’s and is a member of Great American Insurance Group, providing strong underwriting capacity and financial security.
Tim Quayle, CEO at OneAdvent said: “Collective represents a strong example of how specialist MGAs are evolving to meet changing customer expectations. Their focus on embedded distribution and niche product design highlights the continued opportunity for innovation within the insurance market. We are pleased to support their launch and future growth.”
Kyle Baird and Sean Jones, Co-Founders of Collective, added: “Collective was built around a simple idea, to protect the things people love. Whether it’s a camera, a musical instrument or other high-value possessions, customers often rely on standard insurance that doesn’t reflect how these items are actually used.
By working closely with retail partners, we’re able to meet customers at the point of need and offer specialist cover that is more relevant, more flexible and easier to access. This approach allows us to support both passionate enthusiasts and professionals with protection that fits their careers and lifestyles.”
ENDS
For further information please contact :
Sophie Farrow, OneAdvent
T + 44 (0)20 7468 4350
E [email protected]
Notes to Editors
About OneAdvent
Focused on getting insurance businesses to market – and fast – OneAdvent brings its sector expertise and technical know-how to bear for forward-thinking insurance businesses around the world. Collaborating with established industry players and entrepreneurial start-ups alike, we help our clients turn innovative ideas into genuine success stories.
We’re committed to challenging the status quo in a traditional, highly-regulated environment. With continued investment in our business and an empowering, hands-off approach, we’re ready to take advantage of the changing face of insurance. Bringing agility, flexibility and creativity to the market, OneAdvent is the industry’s innovation accelerator.
About Great American International Insurance (UK) Limited
Great American International Insurance (UK) Limited is a member of Great American Insurance Group, whose roots go back to 1872 with the founding of its flagship company Great American Insurance Company. As part of Great American’s European Division, we are proud to offer quality insurance products, superior customer service and a history of financial strength.
Great American International Insurance (UK) Limited, registered address One Temple Quay, Temple Back East, Bristol, BS1 6DZ registered in England as Company No 02714031, is authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation Authority and the Financial Conduct Authority under registration number 202874.
Great American International Insurance (UK) Limited is currently A+ rated by Standard & Poor’s.
www.GreatAmericanUK.com
Contact:
Paul Dooley
European Business Development & Communications Director
T: +44 (0)7973915822
E-mail: [email protected]
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