Menu

Reinsurance News

Greenlight Re Innovations invests in API-based commercial insurer

19th September 2019 - Author: Charlie Wood

Greenlight Re Innovations, a division of specialist hedge fund-backed property and casualty reinsurer Greenlight Capital Re, has invested in Coterie Applications, a digital managing underwriter focused on the SME commercial insurance market.

handshake Greenlight Re Chief Executive Officer Simon Burton explained that the SME commercial space in the US has not yet been effectively streamlined by technology and digital distribution.

“We share Coterie’s belief that there are significant opportunities to target customers – many of whom do not currently purchase insurance – with insurance products distributed via the platforms they already use.”

“Business owners and freelancers need a better way to get insurance,” added Coterie Founder and CEO David McFarland.

“Whether it’s an independent contractor finding the next project with an app or a business owner applying for a loan, Coterie can provide personalized coverage quickly and inexpensively.

“By coupling customized insurance products with new technology, we’re able to utilize information that has already been provided, enabling entrepreneurs to focus on their businesses rather than on their insurance.

“Greenlight Re’s reinsurance expertise and industry connections will help us expand our product offerings to meet the needs of our customers and partners.”

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Legal & General completes £930mn pension buy-in with Tate & Lyle

Legal & General Assurance Society Limited has announced the completion of a £930 million full buy-in for the members of...

Close