Boost Insurance secures investment from BHMS

Boost Insurance announced that it has secured a meaningful equity investment from BHMS Investments, a private investment firm with a specialty in middle market insurance and insurance-related businesses. BHMS joins Boost’s core group of strategic stakeholders that includes Markel, RenaissanceRe and Canopius US Holdings, along with meaningful participation from Boost management. Proceeds will be used to support the company’s continued MGA program and customer growth, expansion of its suite of complementary technology products and services, as well as select acquisitions.

Since launching its first program in 2019, Boost has underwritten approximately $200 billion in coverage behind a “growing list of customers.” Some of these customers include Amwins, Cowbell, Newfront, and Wagmo. The company offers MGAs, independent brokers and agents, and emerging digital insurance providers the needed infrastructure to sell insurance.

“Boost is well ahead of the market in terms of building foundational infrastructure for the fast-growing MGA marketplace. Not only do Boost’s customers gain the benefits that come with leveraging its best-in-class technology, but Boost’s team of underwriting, compliance and risk capital experts also make the Company the most comprehensive, collaborative and scalable solution that we have seen in the market.” – Kevin Angelis, Managing Partner of BHMS.

“We always knew that Boost wasn’t going to be built in a day, especially if we wanted to do it right, so it would be essential to have long-term and highly specialized capital partners behind us that are truly value-add for the company to reach its full potential. BHMS brings a wealth of expertise along with an unquestionable track record of taking businesses to new heights in this very specific industry of ours. They’re the perfect partner for Boost as we graduate out of the venture-backed phase of our journey and continue to scale.” – Alex Maffeo, Boost’s Founder & CEO.