BGC Insurance Group (BGCI) a division of global brokerage and financial technology firm BGC Partners is launching a new specialist global aviation and aerospace (re)insurance brokerage which will be led by newly appointed Marcel Chad as president, effective immediately.
The new brokerage will be built to provide the market with an independent alternative which will operate at global sale. It will have a strong focus on improving client experience which will utilise advanced technology to drive down costs and drive up service.
Initially headquartered in London, Chad will build a select team of experts in the key aviation insurance hubs across the globe and will work on establishing the new business.
Prior to joining BGCI he served as a partner at JLT Aerospace and before that he was CEO and deputy global chairman at Marsh’s Aviation Practice.
Andrew Wallin, chief commercial officer, BGC Insurance Group, said: “The current market is stacked against aviation clients, with three brokers dominating this line of business because of their scale. For a significant independent player like us with a client-focused approach, vision and technical prowess, the gap in the market offers huge disruptive potential. Our proposition will be compelling: a truly bespoke aviation offering from a concentration of the industry’s top talent and tailored to clients, as opposed to the one-size fits all offered by many of our competitors.”
Chad, said: “I wanted to do something new, creating an exciting alternative for clients, driven by leading talent and technology, that could truly invigorate the aviation industry and put customers at the centre of the proposition. BGCI was the only organisation that could match my ambition for the new platform, with the resources to make its success a reality.”