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New Year launch for Kitsune MGA

  • Immediate focus on private car and commercial vehicle 
  • Capacity from AIEL A- rated paper
  • A List partners in CDL, RDT, WNS and WTW
  • Team at Kitsune seeking to build reputation as a supporter of broker market
 
“Kitsune will significantly enhance the value and reputation of Brightside Group.” 
Brendan McCafferty, Group CEO 
  
Kitsune is backed by fronting capacity provider Randall and Quilter (R&Q), through its wholly-owned A- Rated European subsidiary Accredited (AIEL), and a panel of high quality reinsurers and excess of loss providers. 
 
Partners
Kitsune partners include RDT for Policy Administration and Rating Engine (on the Atlas Platform), Willis Towers Watson (Actuarial and Reserving Support), and CDL (policy fulfilment). WNS Assistance is responsible for claims handling.
 
Trevor Bowers, MD of Kitsune, said: “We have assembled a team of A list partners to deliver our vision of creating a virtual insurer. The Kitsune model combines high quality systems and hugely experienced people, with a heavy emphasis on new technology for data and analytics. Our aim is to deliver £20-25m of GWP within the next 12months.”
 
Besides Trevor Bowers, the executive team includes Bruce Coxwell (ex Ageas and Axa) as underwriting and pricing director, Martin Cornwall (ex Ageas) for systems development, and Chris Louch (ex-Slater & Gordon and Kennedy’s Solicitors) for claims management. 
 
Broker Champion 
Trevor said: “In previous roles, we created a good reputation for building authentic relationships and portfolios with our brokers. We have built Kitsune on the basis of listening acutely to what our brokers need, and providing the service and attention they require.” 
 
“Reaching out to brokers and making them feel special is not rocket science, but combining our TLC ethos with A-list partners, state of the art technology and an experienced team makes Kitsune a compelling proposition, especially in the personal lines market, where brokers will always need quality support for their panels to help them compete and thrive.” 
 
Prospects 
Looking ahead, Trevor said that private car and commercial vehicle products will be rolled out to additional brokers on the CDL platform during Q1 2019, with commercial vehicle going onto Open GI before the summer.  
 
“Diversification has been built into our operating model, both in servicing capability for more brokers and bringing new products onstream. A diversified, well managed portfolio is good for our partners and also good for capacity providers because it enables us to better manage profitability through the cycle.”
 
He added: “We will explore the addition of other lines, such as SME, Taxi, Minibus and Fleet, where we will look to support Brightside’s insurer panels, through the Group’s successful One Insurance brand.”
 
He stressed that while there are clear plans to scale up the business and add significant value to the Group, “we are not going to chase volume for the sake of it, and will adopt a cautious approach. Neither do we want to prejudice the excellent relationships the Group currently enjoys with insurers on its panels.” 
 
Brendan McCafferty comment
Brendan McCafferty, Brightside Group CEO, said: “I’m absolutely thrilled that Kitsune has launched. The MGA is a critical component in the future success of Brightside Group and will help fulfil our key strategic aims of building scale, exploiting digital technology and focusing on niches.” 
 
“I am confident that, under Trevor’s leadership, Kitsune will significantly enhance the value and reputation of Brightside Group, for the benefit of all our stakeholders.”   
 
About Kitsune – what’s in a name? 
Trevor said that Kitsune was chosen after the team were struggling to think of a name for the MGA and decided to ask Brightside colleagues to submit their ideas. 
 
One member of staff proposed Kitsune, which is the Japanese word for Fox. Foxes are a common subject in Japanese stories and folklore and are often portrayed as intelligent beings, possessing paranormal abilities that increase with their age and wisdom. 
 
About Brightside Group 
Brightside Group is a leading UK insurance broker. Brightside delivers car, home and business insurance to hundreds of thousands of customers across the UK.  
 
Our brands include Brightside (for Brightside Car and Van and Bike), One Insurance Solution (OIS) for business and personal insurance, CVD (Commercial Vehicle Direct). The group also owns a number of specialist brands, including Kitsune Associates (MGA), IQED (medical reporting), and ProSport, a specialist insurer for professional and semi-pro sports people.  
 
Our partnership with some of the biggest UK insurers means we can find the best possible products for our customers at a fair price. We are also investing in new technology to deliver an unrivalled service, both online and on the telephone.
 
Headquartered in Aust, Bristol, but with offices in Chandler’s Ford and Torquay. Brightside Group has strong roots in the South and South West.  
 
For more information please contact Ben Welsh: 07568 382040 
 
by Brightside Insurance
01/09/2019 14:17:55