AIG and international specialty broker McGill and Partners will collaborate on offerings for the subscription market, using agentic AI capabilities.

AIG expects to underwrite 25% of the capacity for up to $US1.6 billion ($2.2 billion) of McGill’s specialty portfolio.

McGill’s digital broking platform gives AIG access to high-quality data and insights to underwrite the portfolio and allows it to use an agentic AI approach to manage its performance, the companies say.

AIG worked with tech giant Palantir to gain insights on the business underwritten, including nearly real-time exposure, limit deployment, modelling of risk outputs and loss information.

The collaboration could disrupt the dynamics of the subscription market and redefines how capacity is positioned, McGill and Partners CEO Steve McGill says.

AIG chairman and CEO Peter Zaffino says the rapid evolution of AI and large language models is reshaping risk analysis.

By using McGill’s data ingestion capabilities along with Palantir’s Foundry platform, “we are able to evaluate their portfolio to align with our risk appetite, and over time, we see significant opportunity to deliver greater efficiency to the subscription market while giving clients easier access to high-quality insurance solutions”, he says.