Insurate joins AmTrust VIP program as incubator for underwriting modeling and product development
Seattle, Washington, June 27, 2021 — As a major step towards alignment with our policyholders, Insurate has announced it’s admittance and participation in the AmTrust Wholesale VIP Program, where Insurate will take a risk bearing position alongside AmTrust relative to underwriting performance. Traditional Wholesale brokers do not bear claims risk in the placement of insurance policies. Within the AmTrust VIP Program, Insurate participates in the underwriting gains or losses.
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We believe that taking a limited risk bearing position in the performance of our underwriting is critical in the alignment of interests between all stakeholders in our ecosystem. Safe businesses who purchase our product provide above average underwriting returns, and our participation in the AmTrust VIP program allows us to share in those returns with our stakeholders
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says Joe McIlhon, Founder & CEO of Insurate.
About AmTrust
AmTrust Financial Services, Inc., a multinational insurance holding company headquartered in New York, offers specialty property and casualty insurance products, including workers' compensation, business owner’s policy (BOP), general liability and extended service and warranty coverage.
About Insurate
Insurate is a leading insurance technology provider, wholesaler, and managing general agency that leverages data science to create new occupational insurance products for America’s industrial workforce. Through data science and predictive analytics, Insurate identifies businesses that are statistically safer than average, and rewards safe businesses with access to new products and significant insurance savings.
PR Contact:
press@insurate.com
www.insurate.com
