Verve Risk Services, a leading provider in professional and management liability solutions for insurance intermediaries and captives, has announced the launch of a new captive insurance product and its ‘Verve Aura’ broker portal, designed to meet evolving customer needs.
Following investment from BP Marsh just over a year ago, Verve has continued to thrive, supported by OneAdvent, the specialist MGA services platform. The new product is another step towards providing multi-line solutions to complement its existing coverage lines and to bolster its offering within the insurance intermediary and captive space.
In partnership with Michael Maglares & Company, Verve’s newly announced ‘Micro-Captive Defender’ product provides captive insurance companies with defence cost coverage.
Scott Simmons, Verve director and co-founder and lead underwriter for the program, elaborated;
“[This includes] coverage for fines and penalties related to IRS investigations arising from 831(b) status, the exploitation of which has rocked the captive marketplace.”
In its bid to provide an all-encompassing solution to its clients and producers, Verve have also spent the last 12 months developing their ‘Verve Aura’ portal, which has streamlined the way in which brokers can provide insurance to their clients.
“We wanted to make the system as easy to use as possible and improve the process of quoting, document production and invoicing.” commented Alan Lambert, director and co-founder of Verve.
About Verve
Verve is a market-leading insurance intermediary that offers specialist underwriting services on behalf of global insurance companies. Verve brings a fresh, energised approach to underwriting. Established in 2016 , and recognised as a market leader in London, Verve stands out as an independent owner-operated business in a competitive market – with exceptional service and expert knowledge at heart. https://ververisk.com/
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.
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