PriyaPatel
TLDR:
- BHMS Investments has backed insurtech company Boost Insurance to fuel growth.
- The funds will be used for customer expansion and enhancing technology products.
Digital insurance platform Boost Insurance has received an equity investment from BHMS Investments. The investment will support customer expansion, enhance the company’s technology offerings, and facilitate targeted acquisitions. BHMS joins other stakeholders like Markel and RenaissanceRe in supporting Boost’s infrastructure for insurance sales.
Summary:
BHMS Investments has recently invested in insurtech company Boost Insurance to drive growth and expansion. The financial terms of the deal remain undisclosed, but the funds will be utilized to expand customer base, enhance technology products, and facilitate acquisitions. Boost provides essential infrastructure for insurance sales, serving a range of clients from brokers to digital insurance platforms.
Boost’s services cover various aspects of insurance, including underwriting, claims administration, reinsurance capacity, and fronting carrier paper. The investment from BHMS will allow Boost to sustain its ongoing MGA programme, expand its customer base, and introduce new technology products and services. Boost has also recently launched Boost Re, a risk transfer platform to complement its existing offerings.
Jeremy Deitch, Boost’s general counsel and head of compliance, has been promoted to president and added to the company’s board of directors. BHMS managing partner Kevin Angelis expressed confidence in Boost’s ability to lead in the MGA marketplace, citing the company’s advanced technology and expertise in risk management.
Boost founder and CEO Alex Maffeo highlighted the importance of having long-term capital partners like BHMS to support the company’s growth effectively. He sees BHMS as a valuable partner as Boost transitions from venture-backed to a scaling phase. The investment from BHMS signifies a vote of confidence in Boost’s potential to revolutionize the insurance industry.
