RAM partners with SiriusPoint for health and wellbeing proposition | Insurance Business America
Move will expand the MGA’s capabilities in the UK group risk market
Reinsurance
By
Kenneth Araullo
Risk Assurance Management (RAM), a specialized managing general agent (MGA), has announced a strategic alliance with Shepherds Friendly and global re/insurer to expand RAM’s capabilities in the UK group risk market.
Established in 2001, RAM offers over £10 billion in coverage for more than 110,000 individuals. The collaboration leverages Shepherds Friendly’s nearly two centuries of experience as one of the oldest mutual societies in Britain and SiriusPoint’s global expertise in group life insurance and financial strength.
This new partnership introduces a health and wellbeing proposition developed through HealthHero, featuring a 24/7 virtual GP service and a second medical opinion service.
The alliance also aims to enhance RAM’s existing UK group risk business portfolio by broadening its operational reach with competitively priced, superior products. This expansion will enable more UK employees to access essential medical advice and enjoy the security of death in service benefits.
Richard Ashley-Davies, Managing Director at RAM, expressed his enthusiasm for the partnership.
“By entering into this strategic partnership with Shepherds Friendly and SiriusPoint, RAM has a tangible opportunity with fresh thinking to develop into a prominent insurer in the UK group risk market, benefiting the broker community as well as the policyholders we serve. We will continue offering the very best service but now with an enhanced product and pricing strategy, which will allow us to actively compete in providing solutions that meet employer’s needs, whilst strengthening our already robust reputation,” Ashley-Davies said.
Florian Boecker, head of life reinsurance at SiriusPoint, also commented on the collaboration.
“We are excited to leverage our customer focused and collaborative mindset in joining forces with RAM and Shepherds Friendly to bring a highly attractive value proposition to the UK Group Life market. The combined strengths of RAM, Shepherds Friendly and SiriusPoint will enable us to make a real difference in the consolidating UK market. The partnership also aligns with SiriusPoint’s aim to work with specialist distribution partners, while bolstering our global Life strategy to grow in the Employee Benefits space,” Boecker said.
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