Kentucky headquartered reinsurer Mammoth Life & Reinsurance Company has entered into a new commercial agreement with NuAxess, a subsidiary of holding company Quad M Solutions, which specialises in employer organization and staffing businesses.
Collectively, the companies plan to target the large and growing independent contractor and GIG worker market which subsumes over 2 million MBEs.
“Given that we are a modern insurance company focused on utilizing the best of breed technologies, Quad M’s suite of proprietary insurance technologies for the staffing industry is very attractive,” said Paul Ford, Co-Founder and Chairman of Mammoth Life and Reinsurance.
“We intend to focus on the large un/underinsured markets including PEO’s (professional Employer Associations) that target small businesses, large corporations using PEO’s, and over 2 million MBE corporations,” he continued. “We are proud to work with Quad M and believe our partnership will hyper-accelerate each company’s growth.”
Joseph Frontiere, CEO of Quad M solutions, also commented: “This is a game changing deal for Quad M. It not only allows the company to advertise and sell our solutions as the most cost effective full medical insurance solution through traditional insurance channels, but allows us to team up with highly experienced insurance professionals who are using cutting edge technology to both identify new, and to expand traditional markets.”
He added: “We are excited to partner with the only MBE certified medical insurance platform in the U.S. and believe that Mammoth’s growth trajectory will be among the steepest in the insurance industry. We expect Quad M’s growth to be a significant percentage of Mammoth’s business”
Leveraging data science, machine learning and AI, Mammoth Life & Reinsurance Company targets reinsurance placements that secure human capital and strengthen corporate sustainability as a MBE-certified company.
The company is focused on innovative reinsurance structures that mitigate risk of larger corporations managing SG&A expenses closely via the Mammoth Risk Management Data Platform, which its clients and partners use to monitor and underwrite risk.
