Arrow Risk Management, a specialist managing general agency (MGA) underwriting platform that provides brokers and carriers with real-time data across the insurance lifecycle, has raised 拢2 million in funding.
The round was led by ACF Investors and a range of EIS investors. This investment will be used to fuel expansion plans and further develop its underwriting platform.
The insurance industry has traditionally been slow to adopt new technology. However, innovative businesses such as Arrow are driving positive change 鈥� leveraging data and technology to streamline operations and improve customer experience.聽
London-based Arrow鈥檚 platform provides an e铿僣ient and effective trading environment for its underwriters to operate within. It combines a number of system applications to facilitate the rapid production of quality underwriting and claims data, to achieve a fully optimised end-to-end insurance administration process.
This investment comes after a period of growth following Arrow鈥檚 launch in 2022. The business has secured Lloyds cover holder status and achieved dual regulation in the UK and EU.
Jon Godfray, CEO, said: “We are delighted to be working with a solid partner with the reputation and pedigree of ACF Investors. This capital will be used to drive our expansion plans and further develop our underwriting platform.鈥�
Sam Fennell, Partner, ACF Investors: “Traditionally, underwriting has presented a huge challenge for both insurance companies and customers, due to a lack of e铿僣iency in the process. Arrow Risk Management is addressing this critical gap in the insurance market.聽
鈥淚ts technology-driven approach has the potential to signi铿乧antly improve both the underwriting process and the related transaction processing, we are excited to support their journey.鈥�