#United Kingdom #Stockholm #United Risk #Applied Affinity #Consumer Insurance

United Risk Expands into European Insurance Market

United Risk has recently made headlines with the debut of Applied Affinity Underwriters, a venture aimed at developing warranty and affinity insurance services within the European Union and the United Kingdom. This new initiative comes under the guidance of Mr. Hayden Smith, the Regional CEO responsible for United Risk's operations in these regions. Smith emphasizes that this launch is strategic and timely, catering to the increasing consumer insurance market and SME coverage needs.

Established in 2021, United Risk has already built a robust presence in the U.S. market, particularly with the founding of Applied Warranty and Insurance Services, which was made possible after acquiring the U.S. Specialty Lines Division of Generali Group. The significant leap into Europe marks a pivotal moment as the company seeks to replicate its previous success internationally.

The Market Needs

As insurance trends evolve, so does the requirement for specialized consumer insurance solutions. Smith notes that warranty and affinity insurance have proven to be valuable niches that typically demand several years to cultivate effectively. Therefore, Applied Affinity Underwriters aims to focus not just on traditional insurance distribution but also on alternative partnership models that can address the unique demands of businesses in different sectors.

Their product lineup includes Accident, Sickness, Travel, and Lifestyle insurance options, highlighting relevant coverage such as bicycle insurance and gadget protection. These products are being launched in collaboration with their carrier partner, Aviva Insurance Ireland DAC, a company well-established in the insurance sector with a reputable AA- financial rating from Standard & Poor’s.

Authorization and Expertise

The new initiative is fully authorized to operate across both the EU and the UK and is prepared to assist clients with local and cross-border insurance needs. Smith concludes that the vision for Applied Affinity Underwriters is forward-looking, aiming at expansion as client demand evolves. The leadership team comprises veterans from the industry who offer unparalleled technical expertise and distribution knowledge.

Leadership Team

• - Anna Clarving, the new Chief Executive Officer, boasts over 18 years of experience across European and Nordic insurance markets, having previously held roles at significant firms such as Chubb and Zurich. Clarving's diverse background also encompasses digital transformation strategies and venture partnerships.
• - Fredrik Müntzing, the Chief Underwriting Officer, brings specialized experience in consumer insurance underwriting and innovative distribution strategies. He previously worked with major companies like Chubb and Allianz, managing significant underwriting roles across Europe.

About Applied Affinity Underwriters

Headquartered in Stockholm, this agency operates with a license throughout the EU and UK, focusing on consumer insurance and SME coverages. Their specialized underwriting and distribution model ensure robust support for local and cross-border insurance needs, enhancing the competitive landscape for consumer insurance across these regions.

United Risk’s Broader Vision

United Risk Global is an independent insurance underwriting and distribution platform, with its operational office in New York. The company’s operational independence, alongside its relationship with Applied Underwriters, solidifies its position within these evolving markets, paving the way for an exciting future in consumer insurance solutions across Europe and beyond. This expansion represents not just a business move but a commitment to understanding and meeting customer needs in an ever-changing insurance environment.

With a combination of seasoned expertise, innovative product offerings, and a strategic partnership approach, United Risk through Applied Affinity Underwriters is set to redefine the dynamics of consumer insurance in Europe.