WTW, a global advisory, broking, and solutions company, has announced a strategic partnership with Kayna, an award-winning insurance infrastructure platform.
This collaboration is designed to deliver innovative insurance solutions to small and medium-sized enterprises (SMEs) in the UK and the US through industry-specific Vertical Software-as-a-Service (vSaaS) platforms.
The partnership aims to simplify the process of providing tailored insurance offerings to SMEs by leveraging vSaaS platforms.
These platforms serve industries such as construction, legal, salon/spa, fitness, and field services.
Through this move, WTW and Kayna will offer full program administration to meet the specific needs of SMEs, ensuring the insurance solutions are seamlessly integrated into the platforms SMEs use for their daily operations.
WTW, a global leader in advisory and broking services, will lead product development and manage all insurance offerings in both the UK and US markets.
The company’s goal is to drive the next generation of insurance distribution within the fast-growing Affinity Insurance sector.
Kayna, known for its cutting-edge insurance technology, will enable WTW to expand its reach by integrating its insurance solutions into vSaaS platforms through low-code technology, making insurance easily accessible to SMEs.
WTW will distribute a range of insurance products, including property, general liability, workers’ compensation, commercial auto, and umbrella liability solutions.
The partnership allows WTW to harness platform data, ensuring that insurance offerings are tailored and relevant, directly delivered to SMEs. This data-driven approach streamlines the insurance process, enabling platforms to grow top-line revenue while offering SMEs protection through relevant policies.
Kayna’s technology will power WTW’s brokered insurance products across all vSaaS platforms, utilising a low-code orchestration layer to automate key functions. SMEs using vSaaS platforms will benefit from pre-filled applications, policy generation, and real-time alerts if any changes in coverage are required.
This collaboration ensures that SMEs can manage their insurance portfolios efficiently, with access to all necessary documentation, renewal dates, and claims status on the WTW platform.
Paul Lubbers, Head of Affinity and Programs US at WTW said, “This is Affinity Insurance 2.0. Insurance at your fingertips, forms derived from the actual key data that informs insurance metrics, and a facilitated process that goes beyond the policy purchase to trigger alerts if coverage level needs to be updated to mitigate risk. Both WTW and Kayna are playing to our respective strengths in delivering a world-class solution that is set to play a pivotal role in our consumer and commercial programs across the US.”
Anthony Borgman, Head of Affinity GB at WTW commented, “WTW Affinity have been able to add our unique value and expertise to the delivery of a data-led, end-to-end insurance service to not only deliver value but provide greater confidence to SME’s seeking appropriate levels of protection. I am delighted to see our UK Affinity capabilities expand in this exciting way and to have this opportunity to build on our partnership for the long-term.”
Commenting on the partnership, Paul Prendergast, CEO and Kayna co-founder, said, “This is all about driving lots of new types of data-led, automated, simplified insurance business, tapping into huge distribution opportunities and doing all the heavy lifting for vSaaS platforms and their customers. WTW powered by Kayna will be providing trusted full service, tailored insurance solutions direct to SMEs via platforms whose core business is not insurance but whose rich, curated SME data is the critical success factor in ensuring right-sized insurance cover.”
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