PriyaPatel
TLDR:
- Foxquilt has partnered with global insurance provider Markel to drive embedded insurance innovation for small businesses in North America.
- Foxquilt’s underwriting platform, powered by data analytics, will recommend tailored coverage and pricing from its proprietary insurance products.
- The partnership will enable small businesses to access fair value insurance at any point of sale or trading experience with an enterprise partner.
Foxquilt, a North American InsurTech specialising in embedded insurance technology, has formed a strategic partnership with global insurance provider Markel. The collaboration aims to drive innovation in embedded insurance for small business owners, agents/brokers, and enterprise partners in North America. Foxquilt’s underwriting platform, which leverages data analytics, will play a key role in recommending customised coverage and pricing from its own commercial insurance products. The partnership will also help Foxquilt expand its presence in the US, ensuring that small business owners have access to insurance when and where they need it. By combining Markel’s expertise in small business insurance with Foxquilt’s embedded insurance technology, the collaboration will support business owners and the agents, brokers, and enterprises with whom they work. The partnership between Foxquilt and Markel aims to remove friction from the insurance buying process by offering fair value insurance to small business owners. The collaboration validates Foxquilt’s vision of insurance as an innovation leader like Markel believes in their innovative approach to insurance.
