SageSure, a provider of catastrophe-exposed property insurance, has partnered with Goosehead, an independent personal lines insurance agency, to launch an insurance carrier for protect homeowners in coastal states.
Since its launch in 2009, SageSure said it has been modernising property insurance through its online quoting and binding platform and its risk modelling and scoring technology. SageSure offers more than 50 competitively priced insurance products in 14 coastal states on behalf of its carrier partners and serves more than 400,000 policyholders.
SageSure and Goosehead will together launch a reciprocal exchange, Elevate, an insurance carrier to protect homeowners in coastal states.
Exclusively available for distribution by Goosehead producers enrolled with SageSure, Elevate homeowners’ insurance is developed, underwritten, and serviced by SageSure and is now available in Texas. Elevate’s expansion into additional coastal states is imminent.
SageSure said it is one of the first companies to build a reciprocal exchange for a retail agency distribution partner.
The company added that Goosehead has been a top distribution partner for SageSure since 2017, operating in 12 of SageSure’s 14 states.
Terry McLean, co-founder and CEO of SageSure, said, “In launching the reciprocal Elevate, we’ve created a custom admitted solution for capacity challenges in markets that SageSure is uniquely positioned to navigate.
“Goosehead is a valued, top distribution partner, and we are fortunate to have their commitment to continue growing the relationship. We are excited to offer the exclusive capacity to support their impressive growth.”
Ed Konar, president of Elevate, added, “Elevate is designed to put customers first. Our policyholders benefit from SageSure’s underwriting expertise; Goosehead’s unparalleled distribution, sales, and expert advice; and Elevate’s best-in-class customer experiences at every touchpoint in the insurance journey. We look forward to being a long-term partner in protecting our members and their homes.”
Earlier this year, SageSure secured a $375m senior credit facility from funds managed by the US Direct Lending and Alternative Credit strategies of Ares Management Corporation.
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