Canadian Insurtech Foxquilt Announces Partnership with Digital Partners, a Munich Re company
Foxquilt launches as a full-service provider of small business insurance
"Small businesses deserve immediate access to tailor-made insurance solutions that complement their unique operations. However, it requires building new architecture to support data-powered algorithms to afford such value. Our team built a dynamic underwriting platform that rewards business owners with an empowered value offering including simplicity, new products and savings. The progressive platform, Foxden, discerns the nature of the risk, underwrites and rates it, and directs it to a custom-made, proprietary product," said
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"Our partnership with Foxquilt will be our first in
Foxden is a full-stack underwriting platform comprised of data-layered, micro-service architecture. Each of its services, including underwriting and rating, are powered by data algorithms to drive actions across the platform. Foxquilt is one of the first to build a back-end platform focused on profitability; the majority of insurtechs leverage a third-party, vendor platform, don't own the IP and are encumbered by limitations defined by the vendor. The innovative backend system goes beyond traditional insurance transactions and enables underwriting to interact and get changes to the market real-time. Agnostic to channel, (B2C, B2B, SaaS) the platform accesses new sources of data and establishes instant feedback loops to benefit the entire customer journey.
Foxquilt is a proud champion of small business owners and being powered by Foxden will allow the company to continue its mission to become the leading commercial insurance technology company in
About Foxquilt
Foxquilt is an Insurance technology company focused on empowering small businesses and B2B networks to save on Small Business insurance. Our Insurance-as-a-Service platform is complemented by a unique data and machine learning underwriting infrastructure. Leveraging innovative technology and creating unique products, we make life easier for business owners. For more information, visit https://www.foxquilt.com
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