TLDR: Digital managing general agent Foxquilt has formed a strategic capacity partnership with global specialty insurance provider Markel to offer embedded small business insurance technology. Foxquilt uses a data analytics-driven full-stack underwriting platform to provide tailored coverage and pricing for small business and micro-enterprise owners. Foxquilt will use its proprietary commercial insurance products to distribute to businesses at all points of sale or trading experience. The deal also helps validate Foxquilt’s vision of the future of insurance as technology-focused.
Insurtech company Foxquilt has formed a strategic and long-term capacity partnership with Markel, the global specialty insurance provider. The platform has established a proprietary insurance product with analytics-powered full stack underwriting to offer tailored coverage for small and micro-enterprises. The collaboration will allow the coverage to be offered to merchants and businesses at any point of sale they require it, thus establishing decisive improvement to insurance access for business owners.