By Ryan Hewlett

March 28 - (The Insurer) - London MGA Alchemy Underwriting has brought in delegated underwriting specialists Daniel Wright and Steven Mitchell to develop and launch a digital underwriting platform.

Wright and Mitchell officially joined the fast-growing MGA in late 2024 and have been tasked with developing Alchemy’s proprietary digital underwriting platform.

The new platform, expected to launch in the second quarter of this year, will initially focus on U.S. SME property – a class that has more traditionally been accessed in London via binding authorities.

Initially enhancing Alchemy’s current property offering, the MGA is targeting a wider product line roll-out through 2025 and beyond.

Wright and Mitchell previously led Lloyd’s Syndicate 1991, the SME-focused delegated underwriting syndicate which entered run-off in late 2020. Having specialised in the SME delegated market for more than 30 years, the duo have an established record of utilising technology to enhance their underwriting approach.

“The arrival of Dan and Steve is yet another example of Alchemy’s ability to attract high-quality talent,” Alchemy CEO Richard Housley said in a statement to The Insurer.

“We have been overwhelmed by the support from market brokers and our partners since launch, and our work to launch on a truly underwriter-led digital platform will allow us to maintain control of the business we see whilst also opening our expertise up to the wider market.”

Housley added: “Uniquely the digital platform is designed to enhance the long-standing relationships with Alchemy’s market partners, not replace them. We look forward to unveiling further details to the market in due course.”

News of the digital platform follows Alchemy securing Lloyd's coverholder status last summer.

Supported by Fortegra capacity, Alchemy began writing property business in December 2022 and has since reached more than $200 million in gross written premium after launching into classes including professional indemnity and energy.

The MGA, which also has backing from hybrid fronting carrier Bridgehaven and Lloyd’s syndicates, is expected to formally launch a marine offering later this year.