Monday, February 26, 2024

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Boost Insurance launches latest insurance-as-a-service component

Boost Insurance has launched Boost Re, the latest piece in the company’s insurance-as-a-service stack.

For managing general agents (MGAs), insurtechs, and embedded insurance customers, Boost Re’s captive-as-a-service solution will offer the ability for partnered companies to build their own insurance operations.

For alternative risk capital providers, Boost Re offers a conduit to deploy reinsurance capacity across Boost insurance programmes through captive cells.

“We built Boost to provide our customers with a scalable, long-term solution for building or expanding their insurance business, and Boost Re is the next stage in that vision,” said Alex Maffeo, CEO & Founder of Boost.

“By enabling our customers to build a full stack business on Boost Re’s rails, we can offer the same control, reliability, and safety of engaging directly with carriers or reinsurers, at a fraction of the time and cost.”

Boost said that its partners can participate in underwriting returns, have increased product and operational control over their programmes, and get transparent programme data.

Partners can also provide their own reinsurance capacity to sit behind the programmes they build on Boost’s infrastructure.