In this episode of the Reinventing Finance Podcast, KASKO CEO & Co-Founder Nikolaus Sühr and VIG Platform Partners CEO Dr Ronald Engel speak with Jeff Doran, Co-Founder of Talos, an MGA specialising in transactional risk insurance. Doran discusses the evolution of the warranty and indemnity (W&I) insurance market and how technology is shaping its next phase.Key topics discussed include:
➡️Origins of Talos: Founding story, mission, and growth as a tech-enabled multiline MGA.
➡️Role of W&I Insurance: Supporting clean exits in M&A by reducing friction between buyers and sellers.
➡️Market Awareness: Limited understanding remains a barrier; brokers play a role in expanding reach.
➡️Buyer vs Seller Policies: Most W&I placements occur on the buy side to cover unknown risks.
➡️Regional Comparison: Europe shows ~15% market penetration, with scope to expand into smaller M&A deals.
➡️Claims Insights: High-severity claims linked to revenue and contract breaches; frequency varies by sector.
➡️Underwriting Dynamics: W&I affects negotiation behaviour and the disclosure process in transactions.
➡️Broker Collaboration: Brokers remain central to structuring policies and scaling distribution efficiently.
➡️Technology in Underwriting: AI and data-driven platforms enhance speed, consistency, and scalability.
➡️Private Equity Strategies: W&I supports buy-and-build models and streamlined due diligence processes.
➡️Future Outlook: Continued digitisation, faster policy cycles, and focus on sustainable pricing across markets.
The discussion highlights how W&I insurance continues to evolve, blending underwriting expertise with technology, broker partnerships, and data-driven efficiency to support a more agile M&A ecosystem.
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