AI financial infrastructure firm Corgi has launched an admitted insurance carrier, adding to the range of insurance structures it already operates across its group, including risk retention groups, reinsurers, captives and managing general agencies.
According to the firm, different risks are best suited to different structures, and the launch of admitted carrier Corgi Insurance Company, Inc. expands the range of options the group can deploy for a given account.
Corgi explained that it has filed its first products for the carrier, with planned offerings targeting a range of small and middle-market industries, including technology companies, professional and administrative offices, retail stores, personal services businesses such as salons and repair shops, self-storage facilities, restaurants, and wholesalers and distributors.
The offerings will also reportedly include coverage for condominium and homeowners associations, as well as small apartment buildings and residential rental properties.
Emily Yuan, Co-Founder and Chief Operating Officer of Corgi, commented, “Corgi is built to be full-stack, and we look forward to expanding what we can write on this paper as we bring more products to market.”
Earlier this year, Corgi secured $108 million in total financing from a group of investors that includes Y Combinator, Kindred Ventures, Contrary, Oliver Jung, Glade Brook Capital Partners, Seven Stars, Leblon Capital (Andrej Henkler, Fadwa Ouardani), Fellows Fund, Alumni Ventures, Quadri Ventures, Vocal Ventures, Phosphor Capital, SV Angel, and others.
The firm has also made a series of senior appointments since then, most recently naming Johannes Els as Head of Portfolio Risk.
