Insurtech infrastructure companies, Ascend and Stere, have announced a new anchor partnership that will see them team up to provide digital services for existing brokers, MGAs, and carriers.
Ascend is an insurance payments platform that provides automated all-in-one financing, collections, and payables that aims to help distributors eliminate labor-intensive processes.
Stere, meanwhile, is a digital ecosystem for insurance programs that assists in sourcing insurance capacity and accessing digital tools to accelerate launch and growth.
Stere clients are MGAs, insurtech MGAs, and embedded insurance programs, and their ecosystem partners such as carriers, fronting carriers, reinsurers, brokers, program consultants, and technology providers.
“We’re incredibly excited to be collaborating with Stere as we enter the next phase of providing the best possible product/service for our customers,” said Ascend Co-Founder & Co-CEO Andrew Wynn.
“They’ve built an incredible ecosystem that connects “capacity seekers” such as MGAs, insurtechs, or embedded insurance partners, with “capacity providers” like carriers and reinsurers. Stere’s capacity marketplace will support our customers’ capacity needs and becoming a part of that ecosystem, benefits both ours and their customers.”
Stere CEO and Founder Dogan Kaleli also commented: “Working with Ascend further expands and strengthens the roster of network vendor partners our clients have easy access to via our digital ecosystem.”
“Our mission is to be a go-to capacity marketplace for MGAs, reinsurers, and carriers as well as offer them a secure platform where they can launch and grow insurance programs with ease. By restructuring and modernizing insurance payments infrastructure, something that is long overdue, Ascend addresses a long-standing industry pain point and empowers our clients to increase their process efficiencies.”
Ascend says this announcement marks the first of many partnerships it plans to invest in to deepen its relationships with other insurtechs, MGAs, AMS, and other embedded insurance carriers.
