Procore and Shepherd announce partnership
Procore Technologies, the global provider of construction management software, announced a new partnership with commercial insurance startup Shepherd, to begin offering an integrated insurance product that provides “improved insurance terms and lower premiums to qualified Procore customers.”
Shepherd, which received an investment from Procore, will offer qualified Procore customers underwriting credits in order to lower premiums. This program is called Casualty Pro, and starts with Excess Liability, Shepherd’s current product offering. The company plans to expand this program alongside bringing new casualty products to market.
“Procore’s platform, integrations, data and analytics enable our customers to run safer and more profitable businesses. However, contractors are not typically rewarded by insurance markets for making these risk-reducing investments. And, insurance is one of the biggest costs that our customers are trying to manage. Our partnership with Shepherd offers our customers the insurance coverage they deserve.” – Tooey Courtemanche, founder, president and CEO of Procore.
“At Shepherd we’re determined to align the contractor – insurance carrier relationship in new ways. We believe strongly in the power of Procore’s platform and the positive impact Procore tools have on jobsite safety, risk management, and loss control. Innovative insurance products, such as Casualty Pro, allow us to underwrite using more inputs and provide opportunities to credit contractors who’ve adopted the best construction technologies.” – Justin Levine, co-founder, chief executive officer of Shepherd Underwriting.
“We’re introducing Procore usage as a new category in Shepherd’s underwriting process because we believe in the positive benefits of the platform on day-to-day risk management and loss control on job sites. We hope this partnership benefits clients who have already taken the important step of implementing technology solutions across their project portfolios.” – Steve Buonpane, co-founder, chief insurance officer at Shepherd.
