Brace’s Story

The insurance market is constantly evolving, and so are its risks. Brace was founded from a simple realisation: Brokers need bespoke insurance solutions that aren’t always available.  Essentially, we’re here to serve an underserved delegated authority insurance market, and focus on strong, strategic partnerships that are so crucial for success.

Brokers face a constant challenge in today’s insurance market: finding the right partners to deliver exceptional value to their clients. We know that it’s important to simplify the process while still providing specialised solutions. Brace is much more than a traditional insurance company: we’re a partner standing “shoulder to shoulder” with underwriting experts through delegated authority relationships. We’re selective with our partnerships, and it’s vital that our partners can demonstrate underwriting expertise in their chosen area. We also know that by forging strong relationships, you get the clarity, flexibility and expertise you need to thrive.

There are three core attributes of MGAs we look to support:

• Specialist MGAs that come to market with a differentiated product or an alternative distribution method.
• Multi-line structures, allowing us to access cross-class placements; or
• Innovative and emerging products.

So, what sets Brace apart?

We combine years of underwriting experience with data science. We actively seek new or niche risks and constantly improve access to data using the latest technology, to make our underwriting even better. Ultimately, our aim is to build the best delegated authority underwriting team in the insurance business and we’re well on the way to achieving this.

Understanding Broker Needs: We’re Committed to Partnerships

Finding the right MGA: Clarity and Expertise You Can Trust

As a broker, you need to be confident that the MGAs you work with have the relevant expertise and deep knowledge of the products. That’s why, with specialty insurance products, we focus on partnering with MGA experts.

It’s important to us to find specialist MGAs who can demonstrate underwriting excellence, often in specialty product lines that sit outside of the traditional line of business expertise. That way, you’re safe in the knowledge that the bespoke insurance solutions you offer to your clients are backed by an experienced and reliable partner.

Securing Capital: Underwriting Flexibility That Drives Growth

In a fast-paced market, flexibility is vital for bespoke insurance solutions. Our approach to delegated authority underwriting is designed to adapt to your requirements, so we can consider a wide range of risk. We pride ourselves on a flexible, class-agnostic approach to underwriting, understanding that your clients have diverse needs. We’re committed to providing tailored, innovative solutions that meet those needs. Our approach to delegated authority underwriting is both agile and entrepreneurial.

Building Strong Client Relationships

Your reputation is your most valuable asset, so when you recommend others, your credibility is on the line. We prioritise building strong, collaborative relationships to ensure your clients have confidence in you. We provide you with clear, concise information and responsive support, helping you to deliver exceptional service and build lasting client relationships.

Navigating the Market with Clarity: Understanding Brace’s Underwriting Appetite

For you to make informed decisions as a Broker, we understand that you need clear and concise information. That’s why it’s important for us to clarify our underwriting appetite: what we’re looking for and what we’re not.

Niche and Specialty Product Lines: Finding the Right Fit for Unique Insurance Risks

We understand that specialised clients need bespoke insurance solutions. Our focus on niche lines means that we’re committed to partnering with MGAs who are experts in their field. This means that if you work with us, you can access unique coverage that sets you apart from your competitors. We’re experts when it comes to hard-to-place risks.

Innovative and Emerging Products: Staying Ahead of the Curve

Unlike many ‘traditional’ insurers, we’re open to exploring innovative new product lines in emerging sectors where data is limited, such as the carbon credit market, crypto or IVF programmes. Your clients are evolving, and your offerings should too. At Brace we think creatively, which allows us to remain nimble. That way, you can access the bespoke, cutting-edge insurance solutions that your clients need.

Multi-line Placements: Streamlining Your Portfolio

Our class-agnostic approach allows for diverse portfolios through a single MGA, simplifying your workflow and maximising efficiency. Our aim is to make your life easier.

Building Robust Broker Partnerships Helps Us Connect To The MGAs We Seek

Below, we’ve defined the core elements of our ideal MGA partnership. We’ve defined what we love, what we’d consider, and what we limit, to help you see how we can work together.

What we Love: Ideal MGA Partners and Preferred Product Characteristics

We value:

• Data-driven partners
• Experts with a proven track record of profitability
• Short-tail exposures
• Specialist monoline products and low-limit products

This means faster claims and more predictable outcomes for your clients. We’re looking for those that value strong, strategic partnerships.

What We’d Consider: Exploring New Options Together

We’re open to insurtech, parametric solutions, and Asia-Pacific distribution. If you have innovative ideas, we’re open to exploring them with you. We’ll also consider medium-tail exposures with gross written premiums of USD1m – USD5m for our share.

What We Have Limited Appetite For

We’re transparent about our limitations. This allows us to focus on our strengths and provide you with the best possible service in our areas of expertise. This clarity helps us both focus on where we can truly add value. Things that we’re less keen on are treaty reinsurance, long-tail exposure, exposure in Latin America and a gross written premium of less than USD1m for our share.

We’re also very clear about the areas we don’t have any appetite for and will always advise you of this at the outset.

Real-World Results: How We Can Help You Succeed

Here, you can see case studies demonstrating our strategy in action. These examples give you a flavour of some of our successful partnerships with MGAs, creating diversified portfolios.

Multi-Line Success: Streamlining Operations and Expanding Offerings

With Brace, there’s no need to juggle multiple partnerships when you can simplify. We create diversified portfolios through single MGA relationships, streamlining your processes and allowing you to offer a broader range of solutions to your clients. This not only enhances your efficiency, but also your profitability.

Specialty Multi-Line: Tailoring Diversification for Complex Needs

We understand that some clients need a more diverse mix of specialised coverages. That’s why we have a range of specialty multi-line solutions. We combine niche expertise with broader coverage options, to give your clients more comprehensive protection that meets their unique needs. This gives you the confidence that you have the right solutions in place to address their complex risk profiles.

Specialty Mono-Line Success: Proven Expertise in Niche Markets

Specialty mono-line products offer focused coverage for niche insurance risks, allowing you to meet the needs of your customers who have specific, complex insurance needs. Partnering with us allows you to get access to tailored solutions, to give you a competitive edge.

Emerging Risks: Partnering on the Future of Insurance

We’re actively involved in emerging mono-line markets such as carbon credits, giving you access to innovative solutions and future-proof opportunities. We actively seek new and niche risks, allowing you to position yourself as a forward-thinking

Broker, ready to meet your customers’ emerging needs.

So How Can Brace Help Your Business?

At Brace, we’re more than just an underwriting capacity provider: we’re your strategic partner. Our years of experience in delegated authority underwriting mean that we understand the challenges you face. We’re dedicated to providing you with the clarity, flexibility and expertise you need to succeed. By combining traditional underwriting with data science, and being selective about our partnerships, we can help with your hard-to-place risks, streamline your processes and ultimately improve your profitability. We invite you to explore partnership opportunities with us, to discuss how we can help you to succeed.

Ultimately, we know that the delegated authority market has been underserved for far too long, and we’re here to make a change.