Marco Capital Group’s PoloWorks and PwC UK have formed tech-enabled insurance management services provider PoloPartners.
PoloWorks, which earlier this month launched captive manager Polo Insurance Managers, said the joint venture with PwC UK is in response to the market’s need for a differentiated end-to-end service. Leveraging the strengths and expertise of PoloWorks and PwC UK, PoloPartners will offer insurance management spanning actuarial services, claims management, risk and compliance, and other related services.
Initially, PoloPartners will focus on providing captive solutions for corporate customers, capitalising on the recent captives initiative introduced by Lloyd’s. Its services will be carried out by the synergistic teams at PoloWorks and PwC UK, who will ensure a high-quality experience for clients.
The JV, according to PoloWorks, comes amid challenges such as continued regulatory scrutiny and persistent cost pressures. PoloPartners aims to address these by providing a reliable and seamless outsourcing solution.
Richard Lawson, chief executive of PoloWorks division Polo Commercial Insurance Services, said: “PoloPartners epitomises our commitment to innovation and client-centric solutions, leveraging cutting-edge technology and industry expertise.”
Lawson further emphasized the unique value proposition offered by the collaboration, which combines PoloWorks’ regulated platforms and services with PwC’s scale, market insight, and reputation for quality and technological innovation.
Echoing Lawson’s enthusiasm, PwC UK insurance head Alex Bertolotti remarked on the partnership’s potential to create value in new ways, aligning with his camp’s strategy to assist insurance businesses in overcoming challenges and driving transformation.
“We are particularly excited to be working with PoloWorks on this journey, who are a respected and growing player with a strong track record,” Bertolotti said.
Manned by nearly 400 insurance professionals, PoloWorks deals with clients representing around 40% of Lloyd’s and London Market participants.
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