• Boost

  Participated · Equity · Sep 2017

  Boost Insurance offers a full‑stack digital insurance infrastructure platform that supplies MGAs and brokers with underwriting, program management, claims administration, fronting carrier paper, dedicated reinsurance capacity, and turnkey policy administration technology. The platform includes Boost Data Insights for real‑time risk and performance analytics and Boost Re, the company’s segregated cell captive reinsurer. Boost powers configurable, tech‑enabled workflows delivered via low‑code APIs or a no‑code AMS portal and is fully SOC2 compliant. Since launching its first program in 2019, Boost has underwritten approximately $200 billion in coverage and has maintained a profitable portfolio of program business since inception. The company is backed by a panel of A.M. Best A or A‑ rated fronting carriers and over a dozen global reinsurers. Proceeds from the recent investment will support MGA program and customer growth, expansion of its suite of technology products and services, and select acquisitions. Boost Insurance offers a full-stack digital MGA and insurance infrastructure platform that packages compliance, capital, operations, and technology into a single API-based solution. Its platform includes a proprietary core policy administration system, full-service claims administration, active appointments from A.M. Best 'A' and 'A-' rated fronting carriers, and a panel of dedicated reinsurers providing 100% quota-share reinsurance behind supported programs. Boost enables partners to white-label or embed lines of business and claims to have powered its first program in 2019 and, since then, has enabled partners to provide over $110 billion of coverage. The company has a wholly owned subsidiary, Boost Insurance Agency, Inc., and holds delegated authority from leading global (re)insurers to build and manage personal and commercial lines P&C programs. Boost plans to deploy newly provided reinsurance and risk capacity across a diverse range of specialty insurance programs and will use recent financing proceeds to add features to its technology stack and launch a new risk transfer platform in the coming weeks. Founded in 2017 and led by CEO Alex Maffeo, Boost provides an integrated insurance-as-a-service platform that lets companies build, embed, and manage insurance programs via API integrations. Its API packages the operational, compliance, and capital components needed to deliver configurable insurance products within partners' front-end experiences. The company powers dozens of digital distribution clients across industries and stages, including Hippo, Aon’s CoverWallet, Cowbell Cyber, and Wagmo. Boost is licensed to produce any type of insurance across all 50 states. The company plans to expand its API platform features and roll out additional insurance products in 2021 in collaboration with partners. It intends to use new funding to accelerate platform growth, new product development, partner marketing, and to double its team over the next 12–18 months to support growth across insurtech and embedded partner channels. Boost Insurance offers an end‑to‑end IaaS platform that enables companies to quickly launch white‑labeled digital insurance products through API integration. The platform includes data‑driven product development, appointment by an 'A'‑rated carrier, dedicated risk capacity backed by global reinsurers, automated claims administration, compliance, and sophisticated analytics. Boost says partners can be live in a fraction of the one‑to‑four years it often takes with traditional insurers. The company plans to use the latest funding to launch new business lines and expand its API services. Boost recently launched a security‑deposit replacement program with LeaseLock and an SMB commercial cyber insurance program with Cowbell Cyber, and plans to roll out several new data‑driven products in 2020, including startup‑focused management liability, parental leave employer protection, pet insurance, and identity theft protection. Financially, Boost has raised a total of $17 million to date, including the new Series A. Boost Insurance USA operates an API-driven Insurtech Platform that streamlines go-to-market for insurtech startups and new insurance products. Led by founder and CEO Alex Maffeo, the company supports distribution, data analytics, underwriting, and claims workflows. Formed and incubated at IA Capital, Boost guides entrepreneurs through product development and regulatory processes and provides access to regulated insurance paper and risk capacity. It leverages partnerships with re/insurance leaders to offer paper and capacity to startups. The company is expanding the Boost Trusted Partner Network to centralize paper, capacity, and service providers. Boost plans to work with a select group of insurtech startups and begin rolling out new insurtech programs in early 2018.

No current team members are available.