Boost Insurance, a pioneer in the InsurTech sector, and Amwins Program Underwriters, a leading entity within Amwins’ Underwriting Division, have recently announced their collaboration.
This partnership aims to modernize and enhance the Lawyers Professional Liability (LPL) programs: LawGold, Firemark, and the re-launched Attorneys’ Select. Utilizing Boost’s advanced technology infrastructure, these programs are set to be delivered on AM Best “A-” rated paper, marking a significant evolution in professional lines insurance programs.
The essence of this partnership lies in addressing a critical market need while introducing a competitive edge through technology-enhanced underwriting processes and infrastructure. Amwins, headquartered in Charlotte, N.C., stands as a prominent wholesale distributor of specialty insurance products in the United States. The company boasts a strong presence with over 7,300 employees and more than 155 global offices, managing over $33bn in annual premium placements. On the other side, Boost Insurance, with its full-stack digital insurance platform, simplifies the integration of digital insurance programs into various business models, offering a comprehensive infrastructure-as-a-service solution.
The collaboration seeks to leverage both Amwins’ extensive specialty insurance expertise and Boost’s scalable InsurTech platform to deliver streamlined, efficient, and enhanced coverage solutions. Specifically, it targets law firms ranging from solo practitioners to those with up to 40 attorneys, through programs like LawGold, which caters to firms with minimal loss history, and Firemark, aimed at intellectual property lawyers. Additionally, the Attorneys’ Select program focuses on providing solutions for firms that face challenges in securing insurance due to their practice areas or claims history.
This partnership is not only about bringing innovative insurance solutions to the legal profession but also about expanding the reach and efficiency of such programs through technology. The announcement follows closely on the heels of Boost’s introduction of its risk capital platform, Boost Re, and the expansion of its reinsurance capacity by over $130m. This expansion is set to support a range of new and existing insurance programs, with the Amwins LPL program being among the first to benefit.
Amwins President Ryan Armijo said, “Partnering with Boost has enabled us to fill a market need and create a more competitive offering through expanded underwriting appetite and technology-focused infrastructure. Their platform is built for scale, so we look forward to growing our partnership, and working together to address new needs and opportunities in the insurance market.”
Boost CEO and Founder Alex Maffeo remarked, “Amwins is a market leader in the specialty insurance space, with a strong distribution network already in place. We look forward to helping them scale an already successful program to even greater heights with the increased efficiency and automation enabled by the Boost platform, along with tapping into both of our established networks of reinsurance capacity.”
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