Insurance provider SageSure and personal lines insurance agency Goosehead are to partner up and launch a reciprocal exchange called Elevate.
The Texas-domiciled Elevate will look to protect homeowners in coastal states.
It is exclusively available for distribution by Goosehead producers enrolled with SageSure, Elevate homeowners’ insurance is developed, underwritten, and serviced by SageSure and is now available in Texas where market capacity continues to tighten. Elevate’s expansion into additional coastal states is imminent.
Structured as a reciprocal exchange, Elevate is owned by its policyholders and operated by an experienced insurance management team. The structure ensures customer-carrier alignment of interests.
Terry McLean, co-founder and CEO of SageSure “In launching the reciprocal Elevate, we’ve created a custom admitted solution for capacity challenges in markets that SageSure is uniquely positioned to navigate. Goosehead is a valued, top distribution partner, and we are fortunate to have their commitment to continue growing the relationship. We are excited to offer the exclusive capacity to support their impressive growth.”
SageSure is one of the first companies to build a reciprocal exchange for a retail agency distribution partner. Goosehead has been a distribution partner for SageSure since 2017, operating in twelve of SageSure’s fourteen states.
Ed Konar, president of Elevate, said: “Elevate is designed to put customers first. Our policyholders benefit from SageSure’s underwriting expertise; Goosehead’s unparalleled distribution, sales, and expert advice; and Elevate’s best-in-class customer experiences at every touchpoint in the insurance journey. We look forward to being a long-term partner in protecting our members and their homes.”
This is not the only partnership announced by SageSure in recent months. In September, the firm linked up with SURE to expand into commercial insurance in Louisiana. That partnership would see small and mid-sized Louisiana business owners now able to bundle general liability and commercial property coverage with SURE’s business owners policy (BOP), which is underwritten, distributed, and serviced by SageSure.
That announcement followed the launch of SURE’s first commercial product in Texas earlier this year. The company suggested in September that this further showcased its commitment to serving challenging property insurance markets.
