Procure Technologies, a global provider of construction management software, has partnered with US-based InsurTech Shepherd to offer an integrated insurance product.
Shepherd’s mission is to create a safe and sustainable construction industry by providing innovative insurance products to general and specialty contractors which incentivises the use of technology on job sites.
As a Procore portfolio company and App Marketplace partner, Shepherd is offering qualified Procore customers underwriting credits in order to lower premiums, endorsing the idea that technology reduces risk in construction. This program is called Casualty Pro, and starts with Excess Liability, Shepherd’s current product offering. The company plans to expand this programme alongside bringing new casualty products to market.
Justin Levine, co-founder, chief executive officer of Shepherd Underwriting, said, “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.”
Tooey Courtemanche, founder, president and CEO of Procore, added, “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.”
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