McGill and Partners has launched a new trade disruption insurance facility in collaboration with Tokio Marine Kiln and Convex, offering limits of US$95m. Led by TMK, the new offering harnesses the power of AI-enabled technology provided by Altana, to support the understanding and underwriting of trade disruption risk.

Altana’s AI platform is designed to improve service speed and accuracy, while streamlining the preparation and review of trade disruption insurance submissions.

Nicky Payne, partner of capital solutions and treaty reinsurance at McGill and Partners said: “Given the current geopolitical climate, the launch of our groundbreaking trade disruption facility is exceptionally timely, as incidents of this nature are on the rise.

“From the start, McGill and Partners has been built on digital-first principles. We understand the importance of capitalising on this technology, which allows us to pioneer unique and innovative solutions for our clients. This product is a clear demonstration of those principles.”

Ed Parker, head of special risks at TMK added: “Tokio Marine Kiln has been at the forefront of innovation in this class since we launched the world’s first trade disruption cover over thirty years ago. Driving and supporting new solutions which can address the challenges which our clients are facing is core to our offering and central to TMK’s business philosophy.

“Supply chains, globally, have become increasingly complex and their fragility has been underscored by a series of geopolitical shocks in recent years. AI offers the potential for us to better understand our clients, to track the movement of goods and the aggregation of exposures in real time. These new tools can enhance our offering, allow us to broaden our terms due to a greater insight into our clients’ businesses and enable us to further extend our support across supply chains."

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