Launches New Bloodstock Insurance Service: Willis Announcement
In a significant move to make insurance more accessible and efficient for horse owners and trainers in the UK, Gallagher has announced the launch of a new practice dedicated to bloodstock, livestock, and aquaculture. This new venture marks the arrival of a skilled team of eight professionals who have joined Gallagher from Willis Towers Watson.
At the helm of this new team are Sophie Chambers and Dan Fairweather. The team's arrival at Gallagher is part of the company's UK Specialty division and will serve clients globally.
The new practice has been bolstered by strategic partnerships with leading industry players. Markel, an A-rated global specialty insurer and the insurance arm of Markel Group Inc, a Fortune 500 company, will use Willis' low-code technology platform to distribute a bloodstock mortality and theft product embedded within the Equine MediRecord platform.
Equine MediRecord, a leading vertical SaaS platform in equine digital health software, has also secured the partnership of Tokio Marine, a global specialty insurer. This partnership will see the offering of a bloodhorse insurance solution.
Equine MediRecord, which is the first software system to be approved by any equine regulatory body to meet universally stringent reporting requirements, simplifies compliance with animal welfare and anti-doping regulations. It is also the UK's only regulator-approved digital medicines register.
The embedded product supported by Kayna's data-orchestration capabilities will serve data-led insurance solutions to Equine MediRecord's UK client base, which ranges from large stud farms to individual horse owners.
Meanwhile, Anglo-Hibernian Bloodstock Insurance Services Ltd, a specialist bloodstock and equine broker based in Newmarket, the home of horseracing, has been acquired by Global Risk Partners Ltd (GRP).
In another development, Lycetts, a leading equine and bloodstock insurance broker, has become a new partner of the Event Horse Owners Association (EHOA). As part of the one-year deal, Lycetts will present a prize to the highest placed EHOA member in the BE90 and BE100 championships at the Eventing Grand Final.
Anthony Borgman, Head of GB Affinity at Willis, stated that the partnership has enabled them to establish an innovative bloodstock insurance solution for their clients. The partnership between Willis, Equine MediRecord, and Markel, along with the new team at Gallagher, promises to bring about a revolution in the equine insurance sector in the UK.
