Applied Underwriters Launches Innovation Risk MGA Platform
By Insurance Correspondent
July 29, 2025
Omaha, Nebraska-based Applied Underwriters has announced the launch of Innovation Risk, a new managing general agent (MGA) platform specializing in casualty, accident, and life underwriting. Unveiled on July 28, 2025, the platform aims to redefine risk measurement by leveraging proprietary technologies and advanced data analytics, building on three decades of Applied’s research and patented underwriting methods.
A New Era of Underwriting
Innovation Risk combines traditional insurance principles with cutting-edge tools, including predictive analytics, biotechnology, and telephony data research, to enhance risk assessment accuracy. The platform is designed to attract top underwriting and tech talent globally, with initial operations planned for the United States and the European Union. Steve Menzies, Chairman of Applied Underwriters, emphasized the platform’s focus on precision: “Innovation Risk’s competitive advantage lies in its ability to measure risk, rooted squarely in traditional insurance practices. We fully expect it to quickly become the leader in proprietary insurance underwriting.”
The MGA will operate independently but remain affiliated with Applied Underwriters, sharing its brand identity and operational resources. Its home office is located at One Applied Parkway in Omaha, Nebraska. The platform builds on the success of Applied’s earlier MGA venture, United Risk, launched in 2023, which now ranks among the world’s top MGA platforms with 28 specialized programs and over 250 staff across global offices.
Strategic Expansion and Innovation
The launch of Innovation Risk underscores Applied Underwriters’ aggressive growth strategy in underwriting and distribution. Menzies highlighted the company’s private ownership as a key enabler of flexible, autonomous decision-making, allowing it to capitalize on market opportunities. “The establishment of United Risk a few years ago—today one of the top MGA platforms in the world—and now Innovation Risk, underscore our position as the go-to for corporate development and M&A in underwriting and distribution,” he said.
Innovation Risk is expected to begin writing business in the fourth PHP Code:
quarter of 2025, focusing on delivering tailored solutions for complex risks in casualty, accident, and life insurance lines. The platform’s use of advanced analytics and proprietary methods aims to provide profitable competitive advantages in challenging markets.
Industry Context and Competitive Edge
The launch comes amid a broader trend of MGAs reshaping the insurance landscape by offering specialized underwriting and filling capacity gaps in niche markets. Unlike traditional insurers, MGAs like Innovation Risk have the flexibility to respond quickly to market demands, leveraging technology to enhance efficiency and accuracy. Applied’s investment in predictive analytics and recent research in biotechnology and telephony data positions Innovation Risk to compete with other tech-driven MGAs, such as Futuristic Underwriters, which launched similar tech-enabled solutions for commercial property and casualty risks in 2023.
Applied Underwriters’ broader portfolio continues to expand, with recent moves including the spin-off of United Risk as an independent entity, the creation of Applied Credit Underwriters for structured credit and political risk, and plans to grow its space insurance division in response to geopolitical and technological shifts.
Looking Ahead
Industry observers see Innovation Risk as a strategic move to solidify Applied Underwriters’ leadership in tech-driven underwriting. By consolidating its proprietary technologies and fostering independent growth for its MGAs, Applied aims to set a new benchmark for risk management. The platform’s success will hinge on its ability to attract top talent and deliver on its promise of superior underwriting outcomes in competitive markets.
As Innovation Risk prepares to roll out its offerings, the insurance industry will be watching closely to see if it can replicate the success of United Risk and further elevate Applied Underwriters’ reputation as a trailblazer in global risk services.
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