McGill and Partners has announced a capacity expansion for Auton, its award-winning, fully digital cross-class auto-follow facility. As it enters its second year, its maximum capacity will increase from 20% to 25%, which will be available for all eligible lines of business, further enhancing its proposition for clients.
The facility continues to be backed by a panel of Lloyd’s insurers, benefiting from Lloyd’s strong financial market ratings and is led by Beazley’s Smart Tracker Syndicate. Auton’s unique design allows underwriters to dynamically flex line sizes, enabling them to tailor their participation to their own underwriting appetite.
This flexibility, combined with access to a broad and diverse portfolio of business spanning multiple classes and geographies, has positioned Auton as a leading facility in the Lloyd’s market. Additionally, with an average indexation rate above 75%, the facility has out-performed industry expectations.
Its digital capabilities and best-in-class dashboards also set it apart. In recent research conducted with its underwriting panel, Auton’s reporting and live dashboards were ranked among the best in the market. The dashboards include comprehensive live data on index performance, premium, claims, aggregate accumulations, and modelled losses, giving underwriters valuable insights to manage and monitor their portfolios.
The capacity increase, which will soon come into force, builds on a successful first year which also saw the launch of Auton Green, which provides up to 40% capacity for onshore renewable energy risks. As Auton enters its second year, the increased capacity will serve to optimise placement for clients and continue the firm’s focus on delivering efficient placement solutions across all client segments.
Mark Gregson, Head of Digital Solutions, McGill and Partners said, “The success of Auton in its first year is a testament to our digital innovation and the strong collaborative partnerships we have with our carriers, which have been key to the facility’s ongoing improvement. The increase in capacity, is a direct response to the appetite of our carriers and clients who are looking for a more efficient, effective and streamlined placement process.”