CARBON
UNDERWRITING

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WHAT WE DO
Carbon Underwriting is a class agnostic MGU driving transformation in the international Coverholder market. It operates as an Underwriting and Data Lead with a keen focus on Coverholder partnership. Carbon is supported by its proprietary technology platform ‘Graphene’ which presents Underwriters and Coverholders with superior data that motivates profitable and informed underwriting decisions. The MGU acts as an incubator, enhancer and springboard for MGAs to encourage accretive and profitable growth, and does so at a market leading expense base.
PRESS RELEASE
Carbon Underwriting bolsters senior team with appointment of Gary Bradshaw as Claims Manager
London: 13 August, 2020 - - Carbon Underwriting Limited (Carbon) the specialist, independent managing general underwriter (MGU), is delighted to announce the appointment of Gary Bradshaw as Claims Manager, effective 1st August.

Bradshaw has more than 25 years of senior claims management experience in the London Market and brings with him a wealth of knowledge and understanding of high-quality specialty claims handling backed by digital processes. :

In his new position, Bradshaw will be working alongside Carbon CEO Stephen Card, Chief Underwriting Officer Jacqui Ferrier, Nick Tye, Active Underwriter, and Ben Laidlaw, Senior Underwriter and Chief Technology Officer. Stephen Card, Carbon CEO, said:

“We are thrilled to welcome Gary to our team as we begin the next chapter following our successful first year in operation. Gary is a highly experienced professional whose arrival brings clear focus for our claims management specialism, and by working alongside our underwriters, Gary will be instrumental in identifying trends and developments that can support the most efficient, accurate and cost-effective claims processes.

“With the development of our in-house platform Graphene, combined with the expertise of our talented team, we are confident in delivering our future goals, as we strive to become the Lloyd’s Benchmark for data driven quality delegated underwriting. Claims data is key to this success, and Gary’s knowledge and experience will help us drive forward in this area as we continue our mission to transform the Delegated Authority space.”


Gary Bradshaw, Carbon Claims Manager, said:

“Improving claims handling and responsiveness is a critical issue for the delegated authority market and I’m delighted with the opportunity to be part of the enthusiastic and ambitious team at Carbon who are striving to deliver transformational change in our market.

In particular, using Carbon’s proprietary technology Graphene, which offers the ability to support superior analysis, management and sharing of data, has the potential to significantly enhance coverholder relations, improve efficiencies and provide greater transparency across the TPA claims handling process.

And with Carbon recently welcoming its first three coverholder partners, plus securing five principle binding authorities, this is undoubtedly an exciting time to be joining the company.”

Ends


NOTES TO EDITORS:
Carbon Underwriting is a class agnostic MGU driving transformation in the international Coverholder market. It operates as an Underwriting and Data Lead with Carbon Underwriting is a class agnostic MGU driving transformation in the international Coverholder market. It operates as an Underwriting and Data Lead with a keen focus on Coverholder partnership. Carbon is supported by its proprietary technology platform ‘Graphene’ which presents Underwriters and Coverholders with superior data that motivates profitable and informed underwriting decisions. The MGU acts as an incubator, enhancer and springboard for MGAs to encourage accretive and profitable growth, and does so at a market leading expense base.


PR CONTACTS:
Lysander PR:
Helen Wright: helen@lysanderpr.com +44 (0)7842 729 579, Roddy Langley: roddy@lysanderpr.com +44 (0)7547 901 618

PRESS RELEASE
Bright Future for Carbon Underwriting following successful first year
With the formation of Syndicate 4747, authority to underwrite granted, and onboarding of first Coverholders, Carbon is well on the way to becoming the Lloyd’s Benchmark for data driven quality delegated underwriting

London: 3 August, 2020 - Carbon Underwriting Limited (Carbon) the specialist, independent managing general underwriter (MGU), is delighted to today provide an update on its successful first year of operation.

Following June’s ‘in principle’ approval from Lloyd’s for the formation of its Syndicate 4747, established under the Future at Lloyd’s Syndicate in a box initiative, Carbon has now achieved its Year One ambitions including:
  • Permission for Syndicate 4747 to underwrite: Carbon has been granted authority to underwrite two classes of business across three continents

  • First Coverholders onboard: Carbon has onboarded its first three Coverholder clients and secured five principle binding authorities in line with its long-term partnership model

  • Graphene platform development: Carbon has launched a bespoke technology ecosystem supporting superior analysis, management and sharing of data

Stephen Card, Carbon CEO, said:

“Successfully achieving our first year ambitions - all negotiated and actioned remotely under lockdown conditions - is a testament to the dedication of our team, our global relationships and the digital agility of our solution. I’m delighted that we now have authority to underwrite in our chosen classes of business, in the international property and casualty space in the first instance.

We’re here for the long-term, and the next phase of our development will see us dive deep into the data insights that can support our clients and Lloyd’s - and drive profitable underwriting growth. Our mission is to become the Lloyd’s Benchmark for data driven quality delegated underwriting in line with the Future at Lloyd’s strategy, and to reinforce their position as the globally preferred binder capacity market.

We are developing a fresh approach to binder underwriting, delivering a strong lead market for binder consortiums, and lowering the cost of doing business at Lloyd’s. Key to this is demonstrating that our partners can access quality Coverholder business at a markedly lower net operating expense. Going forward, our vision is to reset and transform the market’s approach to delegated authorities with a Lead/Follow model culminating in a Carbon-led consortium in the next three years. Watch this space!”

Jacqui Ferrier, Carbon Chief Underwriting Officer, said:

“The Carbon model is all about enabling partnerships to accelerate profitable growth, backed by data-driven intelligent underwriting to streamline processes and lower costs. We are now well underway in our mission to support the modernisation and growth of our Coverholder partners.

We have a clear focus on strong market entrants who meet our high entry criteria, and align with our incubation, enhancement and springboard partnership model. Carbon has carefully selected three Coverholder partners for our first year. These have been chosen from a wide pool after assessment through our Coverholder selection process ‘Diamond Accreditation’ while underwriting data has been analysed and priced by Carbon and this work verified by the experienced Asta actuarial team.

The syndicate-in-a-box (SIAB) framework offers entrepreneurial, expert teams the best chance for success through a lower-cost and fast-tracked route into the market, encouraging new, accretive and innovative business and talent. Carbon Underwriting Syndicate 4747 achieving its first year business goals, clear evidence of the innovation and hard work of the Carbon team within the SIAB model at Lloyd’s.

Syndicate 4747 is supported by our proprietary technology platform Graphene and the data insights that can be derived from this technology are critical to the drive for profitable, efficient and accurate underwriting - all with a low expense base. With such a strong start, I’m proud to say the future is bright for Carbon and our partners.”

Ends


NOTES TO EDITORS:
Carbon Underwriting is a class agnostic MGU driving transformation in the international Coverholder market. It operates as an Underwriting and Data Lead with a keen focus on Coverholder partnership. Carbon is supported by its proprietary technology platform ‘Graphene’ which presents Underwriters and Coverholders with superior data that motivates profitable and informed underwriting decisions. The MGU acts as an incubator, enhancer and springboard for MGAs to encourage accretive and profitable growth, and does so at a market leading expense base.


PR CONTACTS:
Lysander PR:
Helen Wright: helen@lysanderpr.com +44 (0)7842 729 579, Roddy Langley: roddy@lysanderpr.com +44 (0)7547 901 618

PRESS RELEASE
Carbon Underwriting announces launch of Syndicate 4747
London: 1 May 2020 - Carbon Underwriting Limited (Carbon) the specialist, independent managing general underwriter (MGU) is pleased to announce that it has received ‘in principle’ approval from Lloyd’s for the formation of its Syndicate 4747, established under the Future at Lloyd’s Syndicate in a box initiative. Permission for Syndicate 4747 to underwrite will follow successful completion of Lloyd’s ‘making it happen’ review work.

Syndicate 4747 is a specialist syndicate launched by Carbon to drive transformation in the London delegated authority market. It operates as an underwriting and data lead with a keen focus on Coverholder partnership. Syndicate 4747 is supported by its proprietary technology platform ‘Graphene’ which presents underwriters and coverholders with superior data that motivates profitable underwriting decisions. The syndicate acts as an incubator, enhancer and springboard for Coverholders to encourage accretive and profitable growth and does so at a market leading, low expense base.

The Carbon team has worked for two years to create a suitable business model in order to transform the underwriting of delegated authority business. The Carbon management team comprises Stephen Card, as CEO of Carbon Underwriting with Nick Tye as active underwriter for Syndicate 4747, Jacqui Ferrier the chief underwriting officer for Carbon Underwriting and Ben Laidlaw as senior underwriter and chief technology officer.

Card said: “We’ve always had the ambition to set up our own syndicate but the biggest barrier to entry was that of scale. The SIAB initiative by Lloyd’s, supported by Asta, has enabled us to avail ourselves of the Lloyd’s franchise, rating and licensing earlier than we expected. With the reduced reporting and capital requirements of SIAB, we were able to build an income and expense model that did not rely on scale to achieve profitability, currently the biggest barrier to entry to Lloyd’s outside of the SIAB model. Asta’s support and expert knowledge of Lloyd’s has been a crucial element in helping us reach where we are today, and we look forward to a long-term partnership.”

Tye added: “The new syndicate will on-board current and prospective coverholders in the property and casualty space in the first instance. Our intention is to broaden our portfolio of classes as they fit with our business model and market conditions. Our goal with Syndicate 4747 is to encourage efficient and profitable growth for MGAs. We want to champion Lloyd’s as the globally preferred binder capacity market. Our MGA clients will benefit from our underwriting being solely dedicated to their business and not being written as part of a wider open market account. In a world where clients demand accurate service on a faster turnaround our in-house platform, Graphene, gives us a unique insight into our client’s business. This gives both us and the client a focus on data enabled decisions whilst driving accelerated profit growth for the syndicate.”

Graphene is the Carbon technology ecosystem that presents both qualitative and quantitative data in a manner that encourages superior analysis and management of coverholders and their underlying portfolios. The platform is fully scalable and facilitates sharing of underwriting conclusions through its portal with the coverholder, full distribution chain and uniquely Carbon’s follow markets. This transparency removes the need to reanalyse data, lowering human resource requirements which in turn leads to a reduction in market-wide expense.

Ends


PRESS ENQUIRIES:
Haggie Partners:
+44 (0)20 7562 4444, Damian Beeley: damian.beeley@haggie.co.uk, Shipra Khanna: shipra.khanna@haggie.co.uk
Carbon Underwriting: Stephen Card: stephen@carbonuw.com, Nick Tye: nick@carbonuw.com
CONTACT US
WEBSITE: www.carbonuw.com
Jacqui Ferrier
jacqui@carbonuw.com
Ben Laidlaw
ben@carbonuw.com
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Carbon Underwriting Limited is an appointed representative of Ambant Underwriting Services Limited, a company authorised and regulated by the Financial Conduct Authority under firm reference number 597301 to carry on insurance distribution activities.
Carbon Underwriting Limited is registered in England and Wales company number 11193856. Registered office at 7th Floor, 1 Minster Court, Mincing Lane, London, EC3R 7AA.