Beat Capital Partners introduces proRISE Insurance Services
Beat Capital Partners, a London-based incubator of underwriting franchises and a subsidiary of Ambac, has partnered with Doug Karpp, a former executive at Hiscox and AIG, to launch proRISE Insurance Services, which specializes in management and professional liability insurance with a focus on SMEs.
Launching on October 1 and backed by A+ rated capacity, proRISE Insurance Services writes on behalf of a consortium led by Beat Syndicate 4242 at Lloyd’s. It offers a “robust line” of products tailored to the diverse needs of professionals and executives. Its products will be distributed through wholesale brokers.
The company’s offerings include private directors and officers, non-profit directors and officers, employment practices liability, fiduciary liability, crime, and professional liability insurance tailored for miscellaneous professionals, architects & engineers, and allied health professionals.
“I am incredibly excited to launch proRISE bringing Respect, Integrity, Service and Expertise to our broker partners to provide their clients tailored insurance solutions. With backing and support from Beat, I am confident proRISE will become the go-to solution for the SME executive and professional lines market.” – Doug Karpp, proRISE’s president and chief executive officer.
“We are thrilled to introduce proRISE to the market with the support of highly rated A+ capacity. We think proRISE’s focused approach on SMEs will fill a gap in the market by providing bespoke, service- oriented insurance solutions that are both accessible and essential for the management and professional sectors.” – John Cavanagh, chairman of Beat.
“We are excited to welcome Doug Karpp, whose experience, leadership and comprehensive suite of products will provide significant value to our group. The launch of proRISE illustrates why we were so excited to bring Beat into the Ambac family. De novo launches are a core component of our organic growth strategy, with our multiyear goal being to launch eight to 10 new MGAs. Beat’s proven expertise in standing up insurance distribution businesses will be a key component to reaching our goals.” – Claude LeBlanc, president and chief executive officer of Ambac.
