North American digital managing general agent (MGA), Foxquilt has entered into a strategic and long-term capacity relationship with global specialty insurance provider, Markel, which is set to spearhead embedded insurance innovation for more small business owners, agents/brokers, and enterprise partners across North America.
Backed by the specialty insurance provider, this relationship will allow Foxquilt to further increase its presence across the United States, coinciding with a continued expansion of embedded partners.
Both companies have a strong belief of empowering small business owners with innovative access to tailored coverage.
Through the combination of Markel’s deep knowledge of small business insurance and Foxquilt’s embedded insurance technology, this relationship between the two organisations will heavily support business owners and the agents, brokers, and enterprises that they work with.
Mark Morissette, Foxquilt CEO and Co-Founder, commented: “In a world where buyer autonomy and instant end-to-end results have been normalized, the insurance space has lacked the technology investment that affords this, now, table-stakes experience. Small business owners should have the opportunity to access fair value business insurance at any point of sale or trading experience with an enterprise partner.”
Adding: “Our disciplined focus on innovating great technologies and products as the bridge between small business owners and their enterprise partners has translated into valuable, compounding returns of growth and underwriting profitability. This collaboration with Markel not only supports the distribution of Foxquilt’s proprietary insurance products but also validates that an innovation leader like Markel believes in our forward-thinking vision of insurance as well.”
Markel’s Scott Whitehead, Managing Director, Markel Insurtech Underwriters, said: “We are very excited to collaborate with Foxquilt and support their efforts to remove friction from the insurance buying process for small business owners throughout the country. They have a very capable team of industry veterans and forward thinkers who share our philosophy of putting customers first and delivering products in a way that consumers have grown to expect and demand.”
