PRISM and Efinity Debut Legacy-Free MGA to Target Asia's Booming Market

SINGAPORE – January 20, 2026 – A new chapter in Asia Pacific's insurance landscape has begun with the launch of PRISM, a managing general agent (MGA) built from the ground up on modern technology. Headquartered in Singapore with an office in Hong Kong, PRISM is entering the market without the burden of legacy systems, a move enabled by a strategic partnership with insurtech provider Efinity.

Founded by a trio of industry veterans led by CEO Bobby Heerasing, PRISM aims to combine deep underwriting expertise with a data-driven, transparent operational model. The launch represents a significant bet on the region's burgeoning demand for specialty insurance and a clear signal of the industry's accelerating shift towards digital-first operations.

A New Blueprint for the Modern MGA

For decades, the insurance industry has been hampered by aging, siloed IT infrastructure. These legacy systems often create operational friction, limit data visibility, and hinder the ability to scale new products or respond to market changes quickly. PRISM is launching with the stated intention of sidestepping these challenges entirely.

“PRISM has intentionally set out to use and launch with modern, cutting-edge infrastructure from day one,” said Bobby Heerasing, founder and CEO at PRISM. “Efinity’s industry-proven technology and operating platform provides the operational control, data visibility, and scalability needed to support disciplined underwriting while responding quickly to market shifts.”

The platform provided by Efinity serves as PRISM's complete operating foundation. This integrated system manages the entire insurance lifecycle, beginning with AI-driven submission intake and flowing through digital underwriting workflows, policy issuance, financial management, and bordereaux reporting. Crucially, it provides real-time portfolio analytics, giving underwriters and capacity providers an unprecedented level of transparency.

This "platform-led" approach is central to the new MGA's strategy. It allows the underwriting team to focus on its core competencies—assessing risk, managing portfolio performance, and fostering broker relationships—rather than being bogged down by manual administrative processes.

“PRISM is a clear example of how modern MGAs can be formed and scaled when technology and operations are embedded from day one,” noted Maciej Bud-Gusaim, CEO of Efinity. “Our platform enables experienced underwriting teams to focus on portfolio performance and broker relationships while operating with the transparency and control today’s markets demand.”

For Efinity, which itself was born from a digital MGA, this partnership is a powerful demonstration of its value proposition. By providing a turnkey, cloud-native solution, it significantly lowers the barrier to entry for new ventures and enables rapid market deployment, a process that traditionally could take many months or even years.

Strategic Bet on a Booming APAC Market

The decision to launch PRISM in Singapore and Hong Kong is a calculated move to capitalize on the immense growth potential of the Asia Pacific insurance market. The region is a hotbed of economic activity, digitalization, and rising demand for sophisticated risk management solutions. The APAC insurtech market alone is projected to grow from USD 260 billion in 2026 to nearly USD 400 billion by 2031.

Driving this expansion is a confluence of factors, including rapid urbanization, a growing middle class, and low insurance penetration rates in many developing economies, which represent vast untapped opportunities. Furthermore, high smartphone penetration and a tech-savvy population are accelerating the adoption of digital insurance services, making the region fertile ground for innovative, mobile-first platforms like Efinity's.

PRISM is specifically targeting the specialty and facultative insurance sectors, another high-growth area. The Asia Pacific specialty insurance market is forecast to expand at a compound annual growth rate of 10.8% through 2028. This demand is fueled by the increasing complexity of industrial and commercial risks, from large-scale energy projects to intricate supply chains, which require customized coverage that standard policies cannot provide.

By establishing a presence in the key financial hubs of Singapore and Hong Kong, PRISM is positioning itself at the nexus of regional capital, talent, and market access, poised to serve clients across the dynamic Asia Pacific territory.

The Visionaries and Their Backers

The credibility of any new venture rests heavily on its leadership, and PRISM is helmed by seasoned professionals with deep roots in the Asia Pacific re/insurance market. CEO Bobby Heerasing brings over 30 years of experience, having held senior leadership and underwriting roles at major firms including Asia Capital Re (ACR), SiriusPoint, and Catlin. His track record is marked by the successful development of profitable underwriting platforms across the region.

Heerasing is joined by co-founders Sergei Korol and Jason Smith, both of whom are described as industry veterans with decades of experience, rounding out a leadership team with comprehensive expertise in underwriting, operations, and finance.

This leadership is complemented by a powerful backing structure. Convex, a prominent international specialty insurer and reinsurer, is serving as PRISM's sole strategic underwriting partner. This partnership provides PRISM with essential capacity and access to deep expertise in underwriting, claims, and portfolio management. The support from a respected carrier like Convex serves as a strong vote of confidence in PRISM's business model and leadership team.

On the technology and operational side, Efinity provides the critical infrastructure. This dual-support model—combining strong underwriting capacity from Convex with a state-of-the-art operating platform from Efinity—creates a robust foundation for sustainable and scalable growth, allowing PRISM to focus on executing its underwriting strategy from day one.

Navigating Opportunity and Regulatory Oversight

PRISM will initially underwrite a focused portfolio of specialty lines, including marine cargo, onshore energy, power, and renewables. It plans to expand its offerings to include facultative property and political violence/terrorism coverage in the near future. These product lines are strategically chosen to meet the evolving risk landscape in Asia, where industrial development and the transition to renewable energy are creating new and complex insurance needs.

The launch comes at a time when regulators in the region are both encouraging innovation and increasing their scrutiny of the MGA model. Authorities like the Monetary Authority of Singapore (MAS) have actively fostered insurtech innovation through initiatives like regulatory sandboxes. Similarly, the Hong Kong Insurance Authority (IA) has introduced fast-track schemes for digital-only insurers.

However, the IA has also voiced caution, noting that the separation of underwriting from the ultimate financial risk-bearer in the MGA model requires robust governance and oversight to prevent potential misalignments. The concern is that commission-driven models could incentivize growth at the expense of underwriting discipline.

PRISM’s technology-centric approach appears designed to directly address these concerns. The real-time data transparency and disciplined digital workflows embedded in the Efinity platform provide a clear audit trail and empower both PRISM's underwriters and its capacity partner, Convex, with constant visibility into portfolio performance. This level of built-in governance and control positions the MGA not just as an innovator, but as a potential blueprint for responsible and transparent operations in the evolving regulatory environment. By embedding data and technology at its core, PRISM is making a case that modern MGAs can achieve growth and agility without sacrificing the disciplined execution that market stability demands.