Q Underwriting celebrates its two year anniversary
January 27, 2021
Time has flown since Q Underwriting (‘Q’) opened its doors for business, with sights set on some ambitious goals to benefit brokers and insurers alike. Mike Hudson, Head of Development for Q Underwriting, shares more.
Lift Off Q Underwriting was created on 01 January 2019 as a single regulated entity to unify specialist underwriting brands Thistle Underwriting, TFP Schemes and aQmen Underwriting. Online Risk Solutions, which has integrated into Thistle Underwriting, and Cobra Underwriting Agencies have since joined us.
Launching Q was an initiative for the benefit of brokers and insurers alike; overnight, our single, unifying TOBA provided our brokers with access to an average of 17 additional products and our insurers with distribution to an average for 800 additional brokers. We have since launched a new, unified Qtrade portal for brokers – a single route into many of the 30+ specialist products on offer, with more being added weekly. With easy online transaction available, Qtrade will never deplete the option for traditional, bespoke trading with underwriters.
Our centralised Sales and Marketing team has increased broker support and communications, helping brokers achieve their success with Q and guiding them through the pandemic. The team, dedicated to broker partners, has increased weekly touchpoints by over three-fold and has been overwhelmingly well received.
The huge effort from all our people to achieve so much in such a short period of time is highlighted through Q Underwriting showing significant growth from £70m GWP to over £100m GWP – demonstrating that the business is a strong, reliable partner for brokers and insurers alike.
Right here, right now
In addition to our growth, we’re really proud of Q Underwriting achieving strong reviews from broker partners across product and service in the MGA Star Rating Survey and we are one of only a handful of MGAs with a current 4 Star rating. Our 150+ dedicated colleagues who work hard for our brokers and their clients was highlighted in the feedback as a strength of the business.
With a range of existing specialist products backed only by A rated capacity, Q continues to develop the benefits of an agency through building new propositions and we are very excited for some upcoming developments in our Property and Package division. More details coming soon on this!…
Our Managing General Underwriter (MGU) team will also focus on delivering results to insurer partners through data-driven underwriting practice and portfolio management, as well as securing new capacity for the MGA to deploy.
Building for the future
Looking ahead, we’re not slowing down!
In addition to the team working hard on a new proposition within our Property & Package division, Q is also recruiting additional underwriting talent to complement the existing team and to provide brokers with excellent service whilst ensuring profitable underwriting.
Q Underwriting is a great place to work with proven underwriting and distribution pedigree – dynamic and entrepreneurial; it is a great place to set up shop, with positive relationships across a range of A rated insurers and we are a robust and reliable home for products, clients, and historical data. We are keen to talk to people who can contribute to and develop our pedigree, with established, in-depth underwriting experience. Please get in touch through the PIB careers page if you are interested in finding out more.
We’re really excited about all our plans for Q’s continued growth. To be in the know with all our latest developments, please follow us on LinkedIn, and stay in touch.
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