Boost Insurance Holdings, Inc., a NYC-based infrastructure platform for MGAs, independent brokers and agents, and emerging digital insurance providers, secured an equity investment from BHMS Investments.
BHMS joined Boost’s core group of strategic stakeholders that includes Markel, RenaissanceRe and Canopius US Holdings, along with participation from Boost management.
Proceeds will be used to support the company’s continued MGA program and customer growth, expansion of its suite of complementary technology products and services, as well as select acquisitions.
Led by Alex Maffeo, Founder & CEO, Boost has emerged as a category leader in the digital insurance space by providing its Managing General Agency (“MGA”) and broker customers with configurable, tech-enabled solutions that include (i) underwriting, program management and claims administration resources; (ii) diversified ‘A’-rated fronting carrier paper and dedicated reinsurance capacity; and (iii) turnkey policy administration technology to power end-to-end workflow automation and data analytics.
The company’s core MGA platform is complemented by a real-time risk and performance analytics tool, Boost Data Insights, and its efficient reinsurance capital deployment vehicle, Boost Re.
Since launching its first program in 2019, Boost has underwritten approximately $200 billion in coverage behind a growing list of customers that range from established industry giants like Amwins to high-growth emerging leaders such as cyber insurance provider Cowbell, commercial lines retailer Newfront and pet wellness platform Wagmo, among others.
The company has maintained a profitable portfolio of program business since inception, taking a patient and disciplined approach that has produced consistent results for its stakeholders across the value chain.
In conjunction with the investment, Boost’s General Counsel and Head of Compliance, Jeremy Deitch has been promoted to President and appointed to the Company’s Board of Directors to help lead the business through this next phase.
FinSMEs
01/08/2024