Insurance consulting firm Xceedance has formed a partnership with the Underwriting Agencies Council (UAC) as the business aims to strengthen its presence in the intermediary channel.

Under the partnership announced today, Xceedance is UAC’s 2024 platinum sponsor and it has naming rights to UAC’s flagship expo in Sydney on February 8 at the International Convention Centre. Lloyd’s had naming rights to the event last year.

Xceedance will also conduct three webinars this year on technical topics for UAC members with the goal of building their knowledge and identifying ways to use technology to address brokers’ needs.

UAC CEO Jenny Bax says the partnership provides “significant branding, networking and communication opportunities”.

“We’ll work closely with Xceedance to ensure we maximise opportunities to deliver on expectations. We’ll finetune the relationship as it grows.

“UAC and Xceedance will support each other, and we aim to develop a strong, robust, long-term relationship.”

The UAC-Xceedance 2024 Sydney Underwriting Expo on February 8 will have about 120 underwriting agency and business service members from the peak body taking part as exhibitors and more than 600 brokers are expected to attend the one-day event, the largest on UAC’s calendar.

As platinum sponsor for tech and data services, Xceedance says it will feature strongly at UAC expos, including the Sydney event, during the year.

“Xceedance sees the underwriting agencies sector as a key element of Australia’s insurance industry and one that’s growing rapidly,” Business Leader for Key Accounts in Australia Prateek Vijayvergia told insuranceNEWS.com.au.

He says by working with a service provider like Xceedance, agencies can achieve “maximum” efficiency by leveraging automation in their processes and operations as well as use technology to deploy sales and services engines, capture profitable market segments, and deploy innovative variations to products.

Xceedance has worked with underwriting agencies in other markets since its launch in 2013. In the UK, Europe and the US, underwriting agencies are known as managing general agents.

Mr Vijayvergia says Xceedance has niche insurance expertise and offers a one-stop shop for support services for large and small underwriting agencies.

In Australia, Xceedance already partners with several agencies to provide end-to-end technical services for underwriting, claims, product development, pricing, governance, real-time reporting, and customer service.

“Agencies want to be innovative, entrepreneurial and tech-enabled. We can help them achieve that and generate strong profitability, growth and longevity,” Mr Vijayvergia said.