Motion Specialty has been approved as a Lloyd’s of London coverholder, founded by former Hiscox executives Dan Alpay and Alex Kickham.
The business writes on behalf of Lloyd’s Syndicate 1301, managed by Inigo Ltd., and is supported by Johnson and Johnson, the Charleston, South Carolina-based independent wholesale US broker.
Motion Specialty initially is focusing on high value homes (HVH) and standalone flood insurance, targeting the wholesale-to-wholesale distribution channel. The business offers comprehensive coverage for individuals in challenging areas, using a combination of strong relationships, advanced data utilization, and cutting-edge technology.
Founders Alpay and Kickham have more than 25 years’ experience and bring extensive knowledge across HVH and flood underwriting, in addition to the wider property catastrophe space.
The creation of Motion Specialty creates an entrepreneurial, data-driven venture that draws on Inigo’s underwriting and modeling expertise, analytical capabilities, and strategic focus. In addition, as an experienced, family-owned and independent wholesale broker and coverholder, Johnson & Johnson will provide Motion Specialty with guidance and support, including handling licensing, regulation and operational support.
The US HVH and flood insurance products are experiencing growing demand due to increasing wealth and property values and the rising frequency and severity of natural disasters, respectively. Both products remain underserviced and present significant opportunities for Motion Specialty to underwrite, using proprietary rating algorithms and advanced data analytics.
The need for flood and HVH insurance also continues to expand rapidly with demand extending beyond traditional excess & surplus states like California and Florida. Motion Specialty has nationwide appetite in addition to under
