Spitfire is an online “Virtual” MGA created to serve the residential construction industry.
All products developed offer immediate quote, bind and issue functionality reducing the placement time for brokers and their clients’ construction projects.
Launched in 2020 and starting with our two fully supported online portals for Wood Frame Course of Construction and associated Wrap Up. We are 100% backed by some of Canada’s largest most secure insurance companies, providing peace of mind and consistency in approach to pricing and coverage. Equally, we are 100% privately financed ensuring complete impartiality to all risk selection, with no preferential treatment shown to any one Brokerage.
Our online applications are short and concise, taking approximately 5 minutes or less to complete. Each product incorporates various API connections to third party data providers. By adopting the latest technology, Spitfire uses for example, an online tool to accurately map, record and price for enhanced natural catastrophe exposures.
Initially our products will only be available for your clients who have purchased a project warranty from National Home Warranty Group (a wholly owned subsidiary of Aviva). This strategy is in place to ensure our supporting insurers can develop a significant and profitable portfolio by benefiting from the additional underwriting required during the warranty application process. The potential for claims volatility in the wood frame sector is very present, to ensure the success of our online tools and the faith instilled by our insurer partners, we are seeking to provide coverage to contractors who take a real and genuine approach to risk management.
The future of Spitfire is to remain aligned to our core vision of bringing efficient, user friendly products to market, with a central focus around the domestic construction market. To that end, Spitfire presently has three new online tools in their final stages of development and ready for release in the summer of 2020.