RAM partners with SiriusPoint for health and wellness offerings | Insurance business America
Move will expand MGA’s capabilities in the UK group risk market
reinsurance
By Kenneth Araullo
Risk Assurance Management (RAM), a specialist managing general agent (MGA), has announced a strategic alliance with Shepherds Friendly and a global re/insurer to expand RAM’s capabilities in the UK group risk market.
Founded in 2001, RAM provides over £10bn of insurance cover to more than 110,000 people. The collaboration leverages Shepherds Friendly’s nearly two centuries of experience as one of the UK’s oldest mutuals and SiriusPoint’s global expertise in group life insurance and financial strength.
This new partnership introduces a health and wellbeing offering developed by HealthHero, which includes a 24/7 virtual GP service and a second medical opinion service.
The alliance also aims to enhance RAM’s existing UK group risk business portfolio by expanding its operational reach with competitive pricing and best-in-class products. This expansion will allow more UK employees to access essential medical advice and enjoy the security of a death benefit.
Richard Ashley-Davies, managing director of RAM, said he was excited about the partnership.
“By entering into this strategic partnership with Shepherds Friendly and SiriusPoint, RAM has a real opportunity to transform itself into a leading insurer in the UK group risk market with new thinking, benefiting both the broker community and the policyholders we serve. We will continue to provide the very best service, but now with an improved product and pricing strategy that will allow us to actively compete in providing solutions that meet employers’ needs, while strengthening our already strong reputation Ashley Davies said.
Florian Boecker, Head of Life Reinsurance at SiriusPoint, also commented on the collaboration.
“We are excited to leverage our customer-centric and collaborative mindset by working with RAM and Shepherds Friendly to deliver a very attractive value proposition to the UK group life insurance market. The combined strengths of RAM, Shepherds Friendly and SiriusPoint will enable us to make a real difference in the consolidating UK market. The partnership also aligns with SiriusPoint’s goal of collaborating with specialized channel partners while strengthening our global life strategy to grow in the employee benefits space,” Boecker said.
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2024-05-03 13:10:00
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