Procore Technologies, a global provider of construction management software, has launched construction insurance brokerage to empower builders.
Procore is a leading global provider of construction management software. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore’s platform.
The new offering, Procore Risk Advisors, will simplify and improve one of the construction industry’s biggest challenges: insurance.
Procore Risk Advisors is a modern construction brokerage offering enhanced insurance solutions, including exclusive A+ rated insurance programs in partnership with Allianz Global Corporate & Specialty and Swiss Re.
Procore Risk Advisors rewards Procore customers for their risk mitigation and technology adoption by leveraging data-based insights from Procore’s construction platform to help drive the insurance terms, pricing, and capacity customers have earned.
Tooey Courtemanche, founder, president and CEO of Procore, said, “For the past two decades, Procore’s vision has been to improve the lives of everyone in construction, and Procore Risk Advisors helps us further this vision by modernising the construction insurance space.
“Bringing everyone in construction onto a global platform has clear benefits: better communication, less rework, and safer projects—all of which helps mitigate risk. It also means construction decision makers around the globe are generating a tremendous amount of data that they can leverage to enhance insurance underwriting decisions helping to mitigate their risk.”
Paul Lyandres, CFO and president of FinTech at Procore, added, “Procore’s technology platform captures data on multiple aspects of a construction project, from field to office. Procore Risk Advisors combines construction expertise, real-time data insights, and technology to unlock better insurance and surety outcomes for builders.”
Last year, Mutual insurance company Builders adopted technology from Gradient AI, an enterprise software provider of artificial intelligence (AI) solutions to the insurance industry.
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