SiriusPoint Ltd., a global specialty insurer and reinsurer, has announced a strategic partnership with Vouch Insurance, the fully-digital business insurance platform for startups. SiriusPoint is providing multi-year underwriting capacity and investing in the company’s Series C funding round.
Vouch is a new kind of insurance platform for startups, offering fully-digital, tailored coverage that takes minutes to activate. The company provides comprehensive property and casualty (P&C) insurance to meet the unique and fast changing needs of startups. Vouch’s coverages include Business Property, General Liability, Directors & Officers, Employment Practice Liability, Cyber Coverage and a new “Work from Anywhere” policy launched in response to new working practices created by the pandemic.
The capital raised gives Vouch the ability to invest in their technical capabilities, build embedded insurance with its partners and create a seamless experience for their clients.
“Startups play a critical role in the U.S. economy and traditional insurers have struggled to underwrite these risks and offer solutions to meet the ever-changing needs in this space. We are delighted to support Vouch in providing comprehensive business insurance solutions to the startup sector” said Prashanth Gangu, Chief Operating Officer and President, Insurance and Services, SiriusPoint. “We welcome Vouch to our growing portfolio of technology and customer focused partnerships driving disruptive change in the Insurance industry”.
“Multi-year underwriting capacity and investment from a company such as SiriusPoint is a key factor in our plans to scale up. It will allow us and our talented and driven team to grow our market position significantly,” said Sam Hodges, CEO and co-founder of Vouch.