This strategic alliance is geared towards establishing a long-term risk capacity for insurance programs that leverage Boost’s digital Managing General Agent (MGA) platform.
Boost’s comprehensive platform provides a full-stack solution encompassing compliance, capital, and technology infrastructure. Targeting insurtechs, MGAs, and embedded insurance partners, Boost’s platform is designed to streamline the process of building and scaling insurance programs, significantly reducing both time and capital investments.
Traditionally, the creation and expansion of MGAs or insurance programs would entail a prolonged timeline and substantial financial resources. However, with Boost’s innovative approach, partners now have access to end-to-end infrastructure through a straightforward API integration. This transformative method empowers partners to efficiently scale their digital insurance programs in a more cost-effective manner.
According to reports, the collaborative effort allows partners to focus on enhancing their products, services, and customer experiences while retaining control and flexibility in their operations. Canopius, in turn, will play a pivotal role by providing dedicated risk capacity to support the growth of insurance programs facilitated by Boost.
In addition to this commercial partnership, Canopius has demonstrated its commitment by making a strategic investment in Boost. This investment aims to bolster the expansion of Boost’s technology platform and partner network, further solidifying the relationship between the two entities.
Lisa Davis, President, US & Bermuda of Canopius, commented on the partnership, saying, “We see enormous potential in the turnkey infrastructure that Boost has built. By lowering the barriers to entry for both innovative products and new market entrants, Boost has created an opportunity for Canopius to unlock new technology-enabled distribution channels and premium diversification opportunities.”
Alex Maffeo, CEO & Founder of Boost, stated, “Having long-term support from seasoned reinsurers like Canopius enables Boost to provide a rock-solid platform that our partners can trust as they scale their business.”
