Hokodo Partners With SCOR’s Channel Syndicate
London-based MGA and provider of commercial “Insurance-as-a-Service”, Hokodo, has announced its partnership with the Channel Syndicate and SCOR Global P&C to develop a range of insurance products which will be underwritten and distributed using Hokodo’s technology.
“After spending four years working for a multinational insurer – initially as the Group Chief Risk Officer – it became apparent to me that traditional insurers, lenders and brokers were failing to effectively serve small and medium sized businesses and to give them easy access to appropriate and affordable financial products and protections designed to meet their particular needs. My Hokodo co-founders and I concluded the only way these problems were going to be solved was to start our own business and to tackle the issues head-on.” – Hokodo cofounder, Richard Thornton.
Hokodo’s first product is an invoice protection product insuring SMEs against the risk that their customers will fail to pay the covered invoice when it falls due. “We expect that accounting packages, and other technology platforms used by small and medium size business owners will grow to become a critical distribution channel for commercial insurance . In Hokodo we have found a team with unparalleled expertise to execute on this exciting opportunity.” – Innovation Leader at the Channel Syndicate, Will Thorne.