Piscataway, NJ – February 24, 2022 – OwlSurance, a cloud business unit of ValueMomentum, announced today that it is partnering with Boost, an insurance infrastructure-as-a-service platform that enables businesses to offer white-labeled, embedded insurance. This partnership will allow OwlSurance’ clients to efficiently deploy new insurance products and experiences to their agents and customers, powered by OwlSurance’ applications and Boost’s infrastructure, without requiring in-house development resourcing.
Additionally, OwlSurance’ intuitive applications are ready to support quote and buy journeys for Boost’s products. Boost’s cyber product is the first one to be made available on OwlSurance and additional products – management liability insurance for startups and Business Owners Policy insurance are slated to be next in line.
Boost is a pioneer in developing the insurance infrastructure-as-a-service sector with its API-driven digital insurance platform. Boost’s platform helps leading InsurTechs easily build and manage their digital business by packaging the necessary technological, operational, compliance, and capital components into one turnkey solution. Boost is a fully licensed insurance managing general agency and its programs are 100% backed by ‘A’-rated insurers and global reinsurance companies.
As a Technology Concierge, OwlSurance provides and operates fully managed cloud infrastructure, applications and modern data platforms for insurers. OwlSurance also provides cloud gateways and API management tools to help insurers make their offerings easily available through various distribution channels and end-points and to connect to core systems and vendors. These are underpinned by OwlSurance’ modern technology platform that helps insurers gain an innovation edge while keeping capital and maintenance costs low. Insurers rely on the platform to build on their strengths in distribution, segment leadership, digital operations, and ecosystem partnering.
“We are excited to collaborate with OwlSurance to reach more of the potential market,” said Anthony McKelvy, Vice President of Strategic Partnerships at Boost. “Boost’s infrastructure-as-a-service platform helps any licensed insurance entity to quickly and easily deploy new, white-labeled insurance programs, broadening their insurance offering with new and highly relevant products. OwlSurance’ technical expertise, intuitive applications and cloud gateway services will create access for more insurers to grow their revenue with programmatically-underwritten digital insurance products.”
“Insurers are operating in an evolving environment. On one side, they have to meet the expectations of digital-first consumers while on another, they have to fend off threats from tech-savvy giants and hyper-specialized tech startups. Sustainable growth in this fluid landscape requires adaptive business models and proficiency in partnering with ecosystems. OwlSurance’ cloud gateways provide an easy way for insurers to integrate with an ever-expanding set of leading ecosystems, keep these integrations up to date, without incurring high set-up costs and maintenance budgets. OwlSurance’ modern platform makes it possible to rapidly capitalize on these ecosystem services when building engaging channel and customer relationships, multi-channel quote & buy journeys and services. Boost’s modern insurance products and insurance infrastructure-as-a-service platform represent a great opportunity for our customers to seamlessly expand their insurance offering within their existing platform,” said Anant Iyer, President – Markets & Outreach, OwlSurance.
Boost enables companies to offer digital insurance products to their customers through a fully embedded experience within their own front-end environments. Boost’s insurance-as-a-service infrastructure platform unlocks the $700 billion insurance market through a simple API integration to create a new source of meaningful recurring revenue for InsurTechs and embedded channel partners. Learn more at boostplatform.io.
OwlSurance, a cloud business unit of ValueMomentum, Inc., provides affordable and simplified cloud solutions and enterprise-class services that insurers need to succeed in a digital world. For more information, visit www.owlsurance.com.