Aurora launches new coverage

Digital commercial insurance MGA Aurora Insurance has launched its flagship commercial combined offering with limits of up to £12.5 million backed by AXA capacity.

The new product, encompassing property, business interruption, employers liability and public liability, is available to brokers and insureds online via Aurora’s “dynamic, algorithmic and data-driven insurance platform.”

The London-based company claims to utilize hundreds of different data points to enable the instant purchase of complex insurance products.

“Delivering our algorithmic and our data led thesis for such a complex product set is an incredible milestone. We’re thankful to AXA for demonstrating their confidence in our algorithmic framework, making it easier and quicker for brokers and insureds to get quotes in real-time for more complex risk profiles.” – Aurora co-founder and CTO Bijal Patel.

“We believe that algorithmic lead and follow will very much become a material part of the future of the commercial line’s ecosystem. Automating such a complex package of products where appetite, rules and pricing are typically applied by an underwriter is a signal of Aurora’s intention to be part of this augmented and future looking ecosystem.” – Aurora co-founder and CEO Jan-Vincent Finn.

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