Converge Insurance and Obsidian Insurance Group Join Forces to Enhance Cyber Insurance Capacity

Converge Insurance and Obsidian Insurance Group Join Forces to Enhance Cyber Insurance Capacity

Converge Insurance, a prominent name in the cyber insurance solutions market, has recently enhanced its underwriting capacity through a significant partnership with Obsidian Insurance Group. This strategic collaboration is set to strengthen Converge’s reputation as a leading provider of comprehensive cyber coverage, addressing the increasing demand from wholesale brokers, as reported by Coverager.

Converge Insurance’s Innovative Offerings

Converge Insurance specializes in delivering cutting-edge cyber insurance products specifically designed for wholesale brokers. Their extensive range of solutions includes:

  • ConvergeElements: Primary and excess cyber coverage.
  • ConvergeConnect: Integrated cyber coverage in collaboration with technology providers.
  • API Products: Broker-accessible cyber coverage solutions.

Obsidian Insurance Group’s Role

Obsidian Insurance Group is recognized for its expertise in providing flexible and efficient fronting and underwriting solutions. This partnership with Converge reflects Obsidian’s dedication to supporting innovative insurance organizations.

By joining forces with Obsidian and a network of leading reinsurers, Converge is set to broaden its product offerings. This expansion will provide wholesale brokers with enhanced access to comprehensive cyber coverage solutions.

Industry Insights from Obsidian’s CEO

Bill Jewett, CEO of Obsidian, expressed his enthusiasm regarding the collaboration: “We are excited to partner with Converge and a panel of top reinsurers to meet the growing demand for cyber insurance. This alliance aligns with our commitment to supporting innovative underwriting organizations that prioritize responsible strategies for their clients.”

For wholesale brokers seeking to stay ahead in the evolving landscape of cyber risks, this partnership marks a significant advancement in securing robust and adaptable insurance solutions.

For more information on Converge Insurance and their offerings, visit their official website.

READ ALSO  Klarna Teams Up with JPMorgan to Revolutionize BNPL Services for Merchants

Similar Posts

Revolutionizing Small Business Insurance: Simply Business and London Underwriters Join Forces for Enhanced Digital Distribution

Revolutionizing Small Business Insurance: Simply Business and London Underwriters Join Forces for Enhanced Digital Distribution

Bysupport

Simply Business, a leading digital insurance marketplace for small businesses, has partnered with London Underwriters, a national wholesale insurance brokerage focusing on InsurTech distribution. This collaboration aims to enhance insurance access for small businesses through an integration of Simply Business’s extensive carrier panel with London Underwriters’ LU One single sign-on portal. This streamlined process allows agents to efficiently secure essential coverage options, including General Liability and Professional Liability, for diverse clients such as home-based businesses and contractors. Both companies emphasize their commitment to simplifying the insurance purchasing experience for small business owners.

LGT Partners with NatureAlpha: A Strategic Alliance to Combat Biodiversity Risks in Finance

LGT Partners with NatureAlpha: A Strategic Alliance to Combat Biodiversity Risks in Finance

Bysupport

Sustainable finance is gaining traction as companies like LGT and NatureAlpha team up to combat biodiversity loss. This collaboration focuses on integrating NatureAlpha’s advanced data analysis into LGT’s investment strategies, enabling investors to assess environmental impacts, minimize biodiversity risks, and make sustainable decisions. LGT’s Sustainability Strategy 2030 aims for impactful investments that prioritize ecological considerations. The partnership aligns with global initiatives like the Taskforce on Nature Related Financial Disclosures, highlighting the importance of data in investment decisions. LGT’s commitment is further emphasized by its participation in the Finance for Biodiversity Pledge, showcasing leadership in nature-positive finance.

HITRUST Boosts Cybersecurity Expansion with Strategic Brighton Park Investment

HITRUST Boosts Cybersecurity Expansion with Strategic Brighton Park Investment

Bysupport

HITRUST, a leader in cybersecurity and information risk assurance, has secured a significant growth investment from Brighton Park Capital to enhance its mission amid rising global cyber threats and regulatory compliance needs. The funding will support HITRUST’s expansion into international markets and new verticals while improving its product offerings. CEO Daniel Nutkis will maintain the company’s strategic direction post-investment. Both Nutkis and Kevin Magan from Brighton Park expressed enthusiasm about the partnership, emphasizing the importance of innovation and adaptability in the evolving cybersecurity landscape. This investment positions HITRUST to strengthen its leadership in the field.

US Firms Lead the Charge: Capturing Over 40% of WealthTech Investment Deals in 2024

US Firms Lead the Charge: Capturing Over 40% of WealthTech Investment Deals in 2024

Bysupport

In 2024, the WealthTech sector experienced a significant downturn, with total funding plummeting 69% to $20.1 billion and deal volume dropping 67% to 1,021 transactions compared to 2023. Despite this decline, the US maintained its dominance, accounting for 42% of deals, though it still saw a 66% drop. Major players like Fourcore Capital secured $500 million to enhance AI and blockchain integrations and support advisors. The challenges in the WealthTech landscape underscore the need for innovation and adaptability as investor sentiment remains cautious amidst ongoing economic uncertainties.

Ki Insurance and QBE Join Forces to Enhance Digital Solutions for Brokers

Ki Insurance and QBE Join Forces to Enhance Digital Solutions for Brokers

Bysupport

Ki Insurance has partnered with QBE Insurance to enhance broker insurance solutions through a digital platform that simplifies access to follow-form insurance capacity. This collaboration allows brokers to efficiently access coverage from multiple providers, expediting the binding process and improving market efficiency. Starting in February, brokers will benefit from QBE’s capacity across eleven business classes, including Cyber and D&O. Mark Allan, Ki’s CEO, and Jason Harris, QBE’s CEO, emphasized the partnership’s potential to advance digital trading in the insurance sector, providing faster, high-quality coverage options for brokers and insureds.

Instabase Secures $100M Investment to Scale Its Cutting-Edge AI-Driven Data Platform

Instabase Secures $100M Investment to Scale Its Cutting-Edge AI-Driven Data Platform

Bysupport

Instabase, specializing in applied AI for unstructured data management, has raised $100 million in its Series D funding round, led by the Qatar Investment Authority alongside investors like Greylock Partners and Andreessen Horowitz. Founded in 2015, Instabase develops AI solutions that help businesses extract insights from data such as emails and PDFs. The new funding will enhance its AI Hub platform, focusing on automation, data analysis, and search capabilities. With a growing customer base that includes AXA and Uber, Instabase aims to transform data management across industries, reinforcing its position as a trusted partner for major financial institutions.