Embedded within the Bishop Street ecosystem, BSPM will partner with entrepreneurial underwriters to seize emerging opportunities across the insurance industry and rapidly bring specialised MGAs to market.
BSPM will provide comprehensive infrastructure, back-office capabilities, capital support and insurer relationships, enabling new, niche-focused insurance ventures to launch at speed. Through access to Bishop Street’s shared services model, underwriters will benefit from enhanced operational support across compliance, technology, distribution and data analytics, all powered by an embedded AI-enhanced underwriting workbench. With a fully customisable turnkey system, BSPM is capable of launching new MGAs in as little as 90 days.
To drive this initiative and strengthen its broader strategic goals, Bishop Street has made several key leadership appointments. Luke Porter has been named President of Bishop Street Program Managers. A seasoned underwriter and industry veteran with extensive experience in launching and managing new programs and insurtech platforms, Porter joins from Mission Underwriters, where he led program rollout and expansion initiatives across multiple portfolios.
Joining him is Andrew Shrout, CPCU, who takes on the role of Chief Strategy Officer for Bishop Street Program Managers. With decades of expertise in strategic marketing, organisational transformation and operational sustainability, Shrout will lead the execution of BSPM’s long-term growth strategy and business development efforts.
Commenting on the launch, Luke Porter, President of Bishop Street Program Managers, said: “Operating within the Bishop Street platform truly makes our incubator program unique in the de novo space. With established insurer relationships, multi-faceted leadership expertise and a myriad of distribution opportunities, we take the grunt work out of launching a specialty MGA. I look forward to helping entrepreneurial underwriters own their niche — launching fully operational programs faster, more efficiently and with advanced data, compliance and distribution tools built in from day one.”
Chad Levine, CEO of Bishop Street, added: “Our proven track record in M&A to date has created the ideal foundation for a platform that can bring quality MGAs to market at speed, supported by cross-platform resources and industry-leading technology. As we focus on accelerating growth and building long-term value across the portfolio, we’re pleased to roll out Bishop Street Program Managers as a complementary offering to help launch the MGAs of the future. With Luke and Andrew’s expertise and our platform capabilities, we’re positioned to be the partner of choice for underwriters with niche expertise and an appetite for growth.”
Mike Zabik, Partner at RedBird Capital Partners, concluded: “Looking across the Bishop Street portfolio from a macro perspective, establishing incubator capabilities is the logical next step as the firm continues to execute on innovative growth strategies and initiatives. The addition of Luke, Andrew and Dan enhances Bishop Street’s best-in-class team with market-specific specialised expertise to support sustainable long-term growth.”
The launch of Bishop Street Program Managers marks a significant milestone for Bishop Street Underwriters as it continues to expand its platform, empower entrepreneurial underwriting talent and shape the next generation of specialty MGAs.
