{"id":10061,"date":"2025-06-20T10:42:38","date_gmt":"2025-06-20T10:42:38","guid":{"rendered":"https:\/\/www.advantagego.com\/en-us\/?p=10061"},"modified":"2025-06-20T10:51:36","modified_gmt":"2025-06-20T10:51:36","slug":"voi-podcast-with-mark-wheeler-ceo-of-mosaic-insurance","status":"publish","type":"post","link":"https:\/\/www.advantagego.com\/en-us\/content\/voi-podcast-with-mark-wheeler-ceo-of-mosaic-insurance\/","title":{"rendered":"Mosaic CEO charts growth journey with specialty focus and diversified capital"},"content":{"rendered":"\n<p><iframe title=\"Ep258 Mark Wheeler: Not capital-lite\" allowtransparency=\"true\" height=\"150\" width=\"100%\" style=\"border: none; min-width: min(100%, 430px);height:150px;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?from=embed&amp;i=d8kgx-18da54a-pb&amp;share=1&amp;download=1&amp;fonts=Tahoma&amp;skin=3267a3&amp;font-color=auto&amp;rtl=0&amp;logo_link=episode_page&amp;btn-skin=1b1b1b&amp;size=150\" loading=\"lazy\"><\/iframe><\/p>\n\n\n\n<p><strong>Mark Wheeler, CEO of Mosaic Insurance, a Bermuda-based specialty insurer, appeared on the latest episode of the Voice of Insurance podcast, in association with AdvantageGo.<\/strong><\/p>\n\n\n\n<p>Mosaic Insurance is pushing ahead with its mission to reshape specialist underwriting, as the firm builds on rapid expansion and profitability since launch.<\/p>\n\n\n\n<p>Mark Wheeler, chief executive of Mosaic, shared insights into the Bermuda firm\u2019s growth, speaking on the <em>Voice of Insurance<\/em> podcast.<\/p>\n\n\n\n<p>He also explained the firm\u2019s unique model \u2013 a syndicated model combining carrier characteristics with external capital \u2013 and how technology is transforming risk selection.<\/p>\n\n\n\n<p><strong>Building scale with discipline<\/strong><\/p>\n\n\n\n<p>Wheeler instantly rejected the idea that Mosaic\u2019s ambitions could be described as a \u201cproject\u201d, calling it \u201cmore of an odyssey or a crusade to change the face of specialty\u201d.<\/p>\n\n\n\n<p>Since its beginnings, Mosaic has grown from around 70 staff to 220, in seven countries, delivering compound annual growth of 60% and writing $660m in gross premium across seven lines of specialty business in 2024.<\/p>\n\n\n\n<p>The firm\u2019s footprint, he said, gives access to more than 80% of Mosaic\u2019s targeted business. Wheeler described a shift in Mosaic\u2019s geographical balance, with the US accounting for a growing share of underwriting activity. About a third of the insurer\u2019s staff are US-based, and expected to increase.<\/p>\n\n\n\n<p>\u201cThat trajectory will continue. We\u2019re going to do more in the US in the immediate future,\u201d Wheeler revealed.<\/p>\n\n\n\n<p>Profitability has been as important as scale. Mosaic\u2019s syndicate closed 2024 with a 79% combined ratio, \u201cirritatingly\u201d narrowly missing Lloyd\u2019s top decile, but suggesting refined risk selection credentials for a young firm with growth ambitions.<\/p>\n\n\n\n<p>\u201cGetting the growth and the profit is what it\u2019s all about for us. The profit bit was key,\u201d Wheeler said.<\/p>\n\n\n\n<p><strong>Syndicated capital and market alignment<\/strong><\/p>\n\n\n\n<p>A central element of Mosaic\u2019s strategy is its syndicated capital model, blending its own capital with a growing pool of partners. \u201cIt\u2019s about 50-50,\u201d Wheeler said.<\/p>\n\n\n\n<p>\u201cWe now have 27 underwriting partners or clients who sit alongside us for everything we write.\u201d Over time, Mosaic plans to retain around 20% of risk via its syndicate, aiming to \u201calways be the biggest line on the slip at scale\u201d.<\/p>\n\n\n\n<p>Wheeler underlined that this is far from a capital-light model. \u201cIt\u2019s absolutely not capital light. It\u2019s just not all ours,\u201d he said, stressing the value of alignment between Mosaic and its partners.<\/p>\n\n\n\n<p>On the future of the market, Wheeler predicted greater distinction between market makers and data-driven broker facilities. \u201cEfficiency will win,\u201d he emphasised.<\/p>\n\n\n\n<p>\u201cIn a relatively short period of time, we are going to have a clear demarcation between market makers and a set of capital that picks their market makers.\u201d<\/p>\n\n\n\n<p><strong>AI and risk selection<\/strong><\/p>\n\n\n\n<p>Wheeler highlighted Mosaic\u2019s investment in technology as a major advantage of building the firm from scratch. Artificial intelligence, he said, is central to Mosaic\u2019s focus on enhanced risk selection.<\/p>\n\n\n\n<p>\u201cUltimately, I think the one thing that we can all coalesce around is risk selection and what the future looks like there with the benefit of AI is just extraordinary.\u201d<\/p>\n\n\n\n<p>Mosaic\u2019s partnerships with cyber technology firms Safe Security and Fulcrum Technologies are helping the firm quantify risk in new ways.<\/p>\n\n\n\n<p>\u201cThey are providing us data-driven models, based on audit inside-out view on the likelihood of loss and the cost of loss against the prevailing threat environment,\u201d Wheeler said.<\/p>\n\n\n\n<p>The newest partnership he mentioned is with Canongate AI for Mosaic\u2019s <a href=\"https:\/\/www.advantagego.com\/en-us\/lines-of-business\/political-risk\/\" target=\"_blank\" rel=\"noreferrer noopener\">underwriting of political risk<\/a>, which was up 450% in premium, year-on-year in the first quarter of 2025.<\/p>\n\n\n\n<p>The AI startup is using \u201cmassive data absorption\u2026trialling lead indicators to political disruptions\u201d, Wheeler revealed, currently in the pre-testing phase.<\/p>\n\n\n\n<p>Looking ahead, Wheeler sees growing opportunity in using <a href=\"https:\/\/www.advantagego.com\/en-us\/products\/underwriting\/\" target=\"_blank\" data-type=\"link\" data-id=\"https:\/\/www.advantagego.com\/en-us\/products\/underwriting\/\" rel=\"noreferrer noopener\">technology to support underwriting<\/a> in emerging risks, such as political violence and environmental liability.<\/p>\n\n\n\n<p>\u201cAt the end of the day, I want to get an objective view on risk. A primary obligation on us is to provide our underwriters with better risk selection capability,\u201d he said.<\/p>\n\n\n\n<p>\u201cAnd that would be one reason why people want to work here, and another reason why underwriters would want to underwrite alongside us. At the end of the day it keeps coming back to risk selection,\u201d Wheeler added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mark Wheeler, CEO of Mosaic Insurance, a Bermuda-based specialty insurer, appeared on the latest episode of the Voice of Insurance podcast, in association with AdvantageGo. Mosaic Insurance is pushing ahead with its mission to reshape specialist underwriting, as the firm builds on rapid expansion and profitability since launch. Mark Wheeler, chief executive of Mosaic, shared [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6594,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[19,26],"tags":[10,14],"line-of-business":[24,23,30,20],"class_list":["post-10061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-podcasts","category-latest-insights","tag-exposure","tag-underwriting-workbench","line-of-business-cyber","line-of-business-energy","line-of-business-political-risk","line-of-business-property"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/posts\/10061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/comments?post=10061"}],"version-history":[{"count":0,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/posts\/10061\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/media\/6594"}],"wp:attachment":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/media?parent=10061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/categories?post=10061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/tags?post=10061"},{"taxonomy":"line-of-business","embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/line-of-business?post=10061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}