MBE certified Embrace Partners, Inc., a tech-driven managing general underwriter (MGU) of specialty commercial insurance, has announced the appointments of key executives to its Board of Directors.
Embrace has confirmed that the Board will include Vince Tizzio, CEO, Specialty Insurance & Reinsurance at AXIS; Paul Wendler, Senior Vice President at CAC Specialty; Valerie White, Senior Executive Director at LISC NY; and R. Sharon Smith, Senior Managing Director and Chief of Staff at Ambac Financial Group, Inc.
Embrace is led by industry veteran David Cayemitte, a well-respected thought leader and active participant in the insurance and the MWBE marketplaces.
Moreover, Embrace recently entered into a strategic partnership with Ambac, in which Ambac has assumed a minority ownership stake in Embrace.
Additionally, Embrace’s operating platform will adopt a “digital-first” mindset, leveraging technologies such as data science, AI, and cloud computing to put efficiency and customer experience at the forefront of its model.
Placing insurance with Embrace allows buyers to advance their DE&I platform in exchange for excellent products and services.
Cayemitte, commented: “Diversity has become a top priority for leading organizations both in the public and private sectors. Insurance procurement and DE&I-focused programs are formidable mediums to advance ESG commitments.
“Embrace Partners marks a momentous achievement within the insurance industry and leads a broader movement to broaden economic opportunities for historically marginalized groups. One of our primary goals is to increase participation by minority- and women-owned business enterprises and service-disabled veteran-owned businesses in public projects through access to training, working capital, bonding, and insurance placement.”
“David and his team are laser-focused on helping underserved populations—specifically, minority- and women-owned businesses and disabled veteran-owned businesses—participate in the construction industry,” said Michael Clay, Senior Director of the Opportunity Programs Group and Co-Leader of Procurement for DASNY.
“They provide the training, capital access and bonding needed to bid on projects as a primary contractor, which is a game-changer. Partnering with Ambac will enable Embrace to offer these crucial programs to contractors across the nation.”
