Boost Insurance Secures Dedicated Reinsurance Capacity Built To Power Insurtech Startups

By a News Reporter-Staff News Editor at Insurance Business Weekly -- Boost Insurance ("Boost") announced that it has secured a dedicated reinsurance facility to power its groundbreaking B2B insurtech development platform. The facility is led by Nephila with participation from Markel Digital, the insurtech group within Markel Corporation (NYSE: MKL), and RenaissanceRe Holdings Ltd (NYSE: RNR). Boost, serving as general agent of 'A'-rated fronting carrier State National Companies, Inc., will manage a program supporting multiple insurtech startups entering the property and casualty (P&C) industry and will support all personal and commercial lines of business.

"This is a landmark day for Boost because it makes us a truly one-stop shop for insurtech startups looking to bring their ideas from concept to reality," said Boost's CEO and founder Alex Maffeo. "Limited access to licensed insurance paper and risk capacity is by far the number one barrier to entry for insurtech startups and a huge impediment to innovation in this industry. We spent the last year developing relationships with a group of the most forward-thinking (re)insurance capital providers in the world. These partners are willing to put their money where their mouth is to help insurtech startups succeed and we couldn't be happier to receive their trust and support."

Keywords for this news article include: Business, Boost Insurance USA Inc..

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