Ledgebrook expands product offering to four new lines of business in eight weeks with Federato’s RiskOps

June 3, 2024

Federato’s intelligent underwriting platform enables Ledgebrook to rapidly grow its business

Ledgebrook is a fast-growing, tech-enabled Specialty E&S MGA that is on a mission to provide the quickest and easiest quoting experience to wholesale brokers, while delivering best-in-class pricing and risk selection.

Led by insurance industry veterans, Ledgebrook has taken an underwriter-centric approach to building its innovative next-generation technology stack. To ensure that speed, precision, and agility are an integral part of the core system their underwriters use to transact business, they invested in the Federato RiskOps Underwriting Platform. 

“All too often, brokers have to endure long wait times to get a quote due to time-consuming, manual underwriting processes. By streamlining the end-to-end underwriting process from submission to quote, and delivering real-time data insights directly to our underwriters as part of their core workflow, RiskOps enables us to process, rate, and quote a policy in less time than it takes other MGAs to clear a submission in their systems.” – Gage Caligaris, Founder and CEO, Ledgebrook 

Built for Speed

As Ledgebrook continues to add product solutions to its portfolio, the flexible and configurable RiskOps platform has been instrumental in enabling the company to rapidly launch new lines of business and enter new markets.

“With RiskOps at the core of our underwriting operations, Ledgebrook is able to stand up new lines of business in weeks versus months, paving the way for us to rapidly expand our footprint in the E&S market.” – Gage Caligaris, CEO, Ledgebrook

The Challenge

Like many insurance carriers and MGAs, Ledgebrook saw a need to operationalize its unique risk selection and portfolio strategy at greater speed and scale. It sought a core underwriting platform to bring together diverse data and present a full picture to its underwriters. The solution needed to be agile and extensible to accommodate rapid market expansion and growth. 

“At Ledgebrook, speed is what we do best. Our tech stack needs to support our competitive advantage. We understood that investing in a policy administration system or the same risk scoring models everyone else uses wouldn’t differentiate Ledgebrook at all. For us, what’s most important is how to put data in the hands of our underwriters to make the right decisions about a risk quicker and easier. Federato’s RiskOps Underwriting platform is integral to our mission, bringing speed, agility, and consistency to our core underwriting and quoting processes.”

– Nathan Hall, CTO, Ledgebrook 

“We evaluated several low code/no code solutions before selecting Federato, but none had the flexible and extensible data architecture needed to accommodate our rapid growth,” adds Hall. 

The Solution

RiskOps has pulled together all the dynamic data and insights Ledgebrook’s underwriters require to make the best decisions on policies, accounts, and portfolio management goals – all available within the core underwriting workflow. 

“By providing a single location for all their review, analysis, referrals, and actions, RiskOps eliminates manual tasks and provides our underwriters with the time they need to analyze risks and develop strong relationships with their brokers.” – Adrian Copland, COO, Ledgebrook

The Results

In May 2023, Ledgebrook implemented the RiskOps platform in production and began writing business for two umbrella business lines – General Liability and Professional Liability.

A few months later, after seeing success with their initial two lines on RiskOps, Ledgebrook decided to expand their deployment, adding four subsidiary lines under their primary umbrella lines of business. Within eight weeks of beginning work to develop these new lines of business, Ledgebrook took them live with Federato’s platform. Federato’s policy of not charging for implementation and configuration services allowed Ledgebrook to roll out these new lines with no additional fees. The Ledgebrook underwriting team now works in the RiskOps platform daily.

Since deploying RiskOps, Ledgebrook’s underwriters have experienced a marked improvement in productivity with less time spent on manual tasks like searching for information and rekeying data. The combination of strong technology and underwriter acumen means that Ledgebrook are able to turn around formal quotes to the broker in hours rather than days. 

The company has also seen significant improvements in underwriting precision and performance through the ability to operationalize their strategy and consistently apply strong portfolio controls.  

“From day one, Federato has enabled us to operationalize our unique strategies and ‘secret sauce’ in a way that empowers our underwriters to make better and more consistent risk selection decisions based on our distinctive approach to appetite and winnability. Ultimately, it’s about turning around quotes for our brokers faster than our competition.”

– Gage Caligaris, Founder and CEO, Ledgebrook.

Equipped with Federato’s RiskOps, Ledgebrook is moving full steam ahead with its rapid expansion and sustainably growing its portfolio.

Ready to learn more? Visit www.federato.ai to book a demo today.


More on the topic

See more