Boost Insurance, a prominent player in the insurance infrastructure sector, has just announced the launch of a new product, designed to enrich its comprehensive insurance-as-a-service stack.
The platform, known as Boost Re, is expected to offer significant benefits to its customers and reinsurance partners. The solution’s turnkey captive-as-a-service offering enables managing general agents (MGAs), InsurTech firms, and providers of embedded insurance, to cost-effectively establish and scale their full-stack insurance operations.
For alternative risk capital providers, Boost Re serves as a reliable conduit for deploying reinsurance capacity across Boost-powered insurance programs through dedicated captive cells.
With the integration of Boost Re, Boost Insurance can now claim to be the industry’s first truly vertically integrated digital insurance company. This strategic addition empowers Boost’s partners to provide their own reinsurance capacity, enabling them to participate in underwriting returns, exercise increased product and operational control over their programs, and gain unparalleled transparency into their program’s data. All of these benefits come at a fraction of the traditional cost and capital requirements typically associated with establishing a full-stack insurance business.
The launch of this innovative product benefits third-party reinsurance partners and alternative risk capital providers alike, giving them peace of mind and a reliable channel to access the emerging asset class of insurance.
“We built Boost to provide our customers with a scalable, long-term solution for building or expanding their insurance business, and Boost Re is the next stage in that vision,” said Alex Maffeo, CEO & founder of Boost. “By enabling our customers to build a full stack business on Boost Re’s rails, we can offer the same control, reliability, and safety of engaging directly with carriers or reinsurers – at a fraction of the time and cost.”
“Boost Re allows us to offer even greater value to our risk capital partners. For our third-party reinsurance partners, there’s peace of mind knowing that we are participating alongside them in the same risks. For alternative risk capital providers, Boost Re serves as a reliable, trustworthy conduit to the returns offered by the emerging asset class of insurance,” he continued.
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