WTW Launches Highly Specialized MGU Veritas

Verita will initially focus its bespoke approach to insurance solutions on the Real Estate, Hospitality & Leisure, Financial Institutions, and Professional Services industries.

(Image source: WTW homepage.)

Willis Towers Watson (London) has announced the launch of Verita (Verita CSG, Inc.; Portsmouth, N.H.), a Managing General Underwriting (MGU) company, which WTW describes as well-positioned to revolutionize the insurance industry with a commitment to utilizing deep industry expertise, superior service, and customized insurance solutions.

Edward Chiang, President and CEO, Verita.

WTW describes Verita as dedicated to providing innovative solutions and tailored products to meet clients’ unique needs.  A WTW statement says Verita’s team of industry veterans brings deep expertise and a comprehensive understanding of clients’ insurance needs across property, casualty, and financial lines of business. The new company will initially focus on Real Estate, Hospitality & Leisure, Financial Institutions, and Professional Services industries.

Verita pitches itself as understanding the complexities of clients’ unique businesses and beyond delivering specialized insurance solutions, is committed to providing exceptional service. From the initial onboarding to engaging with underwriting, claims and loss control experts, the company says its team says aims to deliver a seamless, stress-free experience.

Bespoke Approach

Verita says it brings expertise with programs from guaranteed-cost policies to highly customized alternative insurance solutions. The company offers what it calls a distinctive and adaptable approach, permitting it to provide bespoke configurations for a young, growing company seeking flexible insurance program structures or in a similar fashion, providing an established corporation a niche insurance product. Verita says its bespoke approach ensures that clients receive access to a comprehensive suite of industry-specific insurance solutions.

“We believe in developing and providing innovative, long-term insurance solutions for our clients,” comments Edward Chiang, President and CEO, Verita. :Our commitment to industry specialization will place Verita at the forefront of meeting the insurance product and service challenges of today’s evolving risk environment. Our mission is to provide clients with the right insurance tools to mitigate their risks, allowing them to focus on growing their businesses.”

“We are delighted to have the support of strategic allies, especially Markel, Chiang adds. “It is exciting to collaborate with industry specialists driven to be the best in the business, which will lead to mutual success.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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