Boost Insurance, the leading insurance infrastructure platform has entered into a partnership with Canopius US Insurance Holdings, Inc. The goal? Provide long-term risk capacity behind Boost-powered insurance programs.
Boost is a full-stack digital MGA platform that provides compliance, capital, and technology infrastructure to product and distribution-focused insurtechs, MGAs, and embedded insurance partners.
Traditionally, building and scaling an MGA, or even just a new insurance program, would take millions and multiple years. However, Boost’s partners access end-to-end infrastructure via a turnkey API integration that reduces the costs of scaling their digital insurance programs. Boost’s partners can focus their resources on delivering better products, services, and experiences to their customers. This while they maintain the same control and flexibility they would have if they built it all themselves.
The dedicated risk capacity provided by Canopius will fuel the high-growth and highly profitable insurance programs that Boost supports. Canopius’s investment seeks to fuel Boost’s expansion of its proprietary technology platform and partner base.
“We see enormous potential in the turnkey infrastructure that Boost has built.”
Lisa Davis, CEO US & Bermuda Canopius
Boost will deploy the reinsurance and risk capacity provided by Canopius across a range of specialty insurance programs. The aim? To do so more cost effectively than traditional one-off program business. Like Canopius, Boost’s growing syndicate of reinsurers and other risk capital providers should benefit.
“We see enormous potential in the turnkey infrastructure that Boost has built,” said Lisa Davis, CEO US & Bermuda of Canopius. “By lowering the barriers to entry for both innovative products and new market entrants, Boost has created an opportunity for Canopius to unlock new technology-enabled distribution channels and premium diversification opportunities. Their team values everything that always matters in insurance – underwriting, compliance, and capital efficiency – while still being committed to powering new and potentially disruptive concepts that can help move the industry forward.”
“Boost is deeply committed to providing the most comprehensive and cost effective infrastructure platform in the insurance industry.”
Alex Maffeo, Boost CEO & Founder.
Boost Insurance
Since 2017, Boost has focused on making the insurance industry more accessible and cost-effective for innovators and stakeholders. “Boost is deeply committed to providing the most comprehensive and cost-effective infrastructure platform in the insurance industry,” said Alex Maffeo, Boost’s CEO & Founder.
Canopius’s strategic investment is part of a broader round of financing with participation from a number of new and existing investors. They include RRE Ventures, Fin Capital, and IA Capital Group. Boost will seek to add several powerful new features to its technology stack along with a new risk transfer platform.
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