SiriusPoint and Insurate announce partnership
SiriusPoint and Insurate, an MGA offering workers’ compensation insurance to small and mid-sized US industrial businesses with an “established culture of safety,” have announced a strategic partnership.
As part of the partnership, SiriusPoint will provide capacity and collaborate with Insurate in underwriting and developing insurance products in the workers’ compensation medium to high-hazard space.
“Insurate’s data driven approach to highly specialized workers’ compensation, its experienced management team, and market-leading underwriting make this partnership an excellent fit for SiriusPoint. We see great potential to better support high quality companies in a misunderstood and underserved portion of the workers’ compensation insurance space through this partnership. Given the significant fragmentation in the medium to high hazard workers’ compensation landscape, we believe that Insurate has the product, team and value proposition to be a market leader in this sector. We look forward to working with them.” – Patrick Charles, global head of Property and Casualty Insurance Services at SiriusPoint.
“We are thrilled to be working with SiriusPoint. The Company’s underwriting and MGA incubation expertise will allow us to capitalize on our data-driven business model to deliver superior workers’ comp cover to our clients. With backing from SiriusPoint, we are executing on our mission to reinvent workers’ comp as we know it.” – Joe McILhon, Founder and Chief Executive Officer of Insurate.