QBE and Aurora launch embedded lead algorithmic underwriting capability

QBE Insurance has partnered with Aurora Insurance to launch an embedded algorithmic underwriting capability for complex specialty risks, with its British Marine Yacht P&I product as the first live use case.

The capability, developed with QBE Ventures, enables fully automated lead underwriting within QBE’s own systems, covering submission intake, validation, pricing, documentation, and binding. For yacht P&I, the end-to-end quote-to-bind process has been reduced from days to under 10 minutes, with immediate certificate issuance.

“This partnership demonstrates how strong collaboration accelerates meaningful innovation for QBE and brings new capabilities to market at pace. By working closely with Aurora, we have delivered a fully governed lead algorithmic underwriting capability that operates directly within QBE’s systems, controls and appetite – something the industry has not seen before. Launching with Yacht P&I is an important first step, and this approach positions QBE ahead of the market as digital trading and algorithmic underwriting continue to evolve.” – James Orchard, CEO of QBE Ventures.

“In Yacht P&I, speed, accuracy and reliability are critical, our brokers and clients often need documentation immediately to keep vessels moving. What previously took days can now be completed in minutes, with greater consistency, clearer auditability and richer data behind every decision. It reflects the strength of QBE’s innovative culture and the collaboration across our underwriting, operations and technology teams. This will materially enhance the service we provide to our broker partners and support the continued growth of the portfolio.” – Kevin Shallow, Executive Director of QBE International Markets.

“Over the last nine months, Aurora has worked closely with QBE Ventures to develop our Algo Underwriting-as-a-Service model, allowing insurers to adopt lead algorithmic underwriting today, not five years from now. Embedding this capability directly into QBE’s operations positions both organisations ahead of the market. QBE’s cross-functional collaboration has been exceptional in bringing this to life with real pace and precision. We’re grateful for their openness to innovation and the collective effort that enabled the successful launch of QBE’s first lead algo product, Yacht P&I.” – Bijal Patel, Co-Founder of Aurora.