The collaboration, announced by Foxquilt, founded in 2016, marks a pivotal move in the startup’s mission to broaden its insurance offerings for small businesses.
Foxquilt, known for its collaboration with multiple carriers, specialises in providing diverse coverages, ranging from general liability to cyber insurance. With this newly forged relationship with Markel, Foxquilt aims to strengthen its foothold in the United States market, signaling a strategic expansion beyond its Canadian roots.
Insurtech Foxquilt has unveiled a new underwriting platform, which allows small business owners to quote, bind, and directly purchase customised business insurance online.
https://www.insurtechinsights.com/europe/The news follows on from the launch of the Foxden Platform, which provides insurance for:
- Health & fitness professionals, like personal trainers.
- Home contractors, like interior designers or cleaners.
- Creative entrepreneurs, like freelance writers or photographers.
- Personal coaches & assistants, like life and career coaches.
- Pet services, like dog walkers.
Foxquilt launched Foxden as a way to provide small business owners with direct access to insurance options.
At the time, Foxquilt co-founder and CEO Mark Morisette Morisette, said: “Ecommerce has transformed the way in which business owners transact their affairs; they trade and purchase with customers and suppliers using dynamic Ecommerce trading platforms and as personal consumers, they do the same. Yet somehow, these dynamic platforms don’t exist to allow business owners to access insurance for their operations in the same way.”
Speaking about the new partnership with Markel, Scott Whitehead, managing director, Markel Insurtech Underwriters, commented, saying: “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.”
He added: “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.”
Author: Joanna England
