Greenlight Re Innovations has made an investment into digital managing general underwriter Nimbla.
Based in London, Nimbla is an automated MGA that has API integration capabilities to plug into SME financing platforms. Through these integrations, the company can offer immediate quote and bind of credit insurance at a single invoice level and address the underserved SME market within existing workflows.
Through analysing a SME’s credit risk in real-time, the InsurTech can dynamically price the insurance to reflect the current credit risk of a SME more accurately.
Nimbla CCO Elizabeth Jenkin said, “Nimbla has turned traditional trade credit insurance on its head with single invoice insurance; quote and bind in less than two minutes which significantly disrupts the traditional model.
“The partnership with Greenlight enables us to widen our reach geographically and build and distribute more complementary products, particularly during this challenging time for businesses.”
The InsurTech recently released tools to insure against credit risk in mainland Europe, following demand from customers.
Greenlight Re Innovations is the investment division of the specialist property and casualty company Greenlight Re reinsurance, which is based in the Cayman Islands.
The insurer previously invested into property insurance claims fulfilment platform Handdii Pty back in 2019.
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