MarketScout, an electronic insurance exchange and specialty MGA headquartered in Dallas, Texas, has invested in the Wingman insurtech platform and added the start-up to its MGA accelerator program.
Wingman provides retail agents with access to cyber insurance coverage in a 60-second quote to bind electronic format, aiming to deliver policies within two minutes.
MarketScout invested in the insurtech via its MarketScout InsurTech ventures (MIT) business, and also placed Wingman on the MarketScout Exchange.
“Wingman is by far the most impressive quote to bind offering we have analyzed,” said Richard Kerr, CEO of MarketScout.
“The Wingman offering provides retail agents the ability to quote, bind, pay, and issue policies in less than three minutes,” he explained. “Many talk about this efficiency but few are able to actually deliver. Wingman delivers.”
MarketScout will place Wingman in its MGA accelerator program that focuses on distribution to the 40,000 retail agents on the MarketScout Exchange.
“We are excited about our partnership with MarketScout,” added G. Philip Feldman, CEO of Wingman. “We share the common goals of making insurance buying as easy as an Amazon purchase and only offering the broad policy coverage policyholders expect.”