JLT Re North America has partnered with Pact Insurance, a personal auto insurtech company that allows can buy and manage their car insurance completely from their smartphone, to develop insurance products for mobility risks. It currently offers low cost, on-demand auto insurance in Ohio via Pact.
The partnership helps in bringing new kinds of digital auto insurance solutions capable of providing in-depth expertise in data and underwriting underserved risks. The solutions are expected to be dynamic as opposed to one size fits all coverage and consumer behavior.
“Pact has a level of data and underwriting granularity that is rare amongst new entrants. Pact takes data to another level in its plans to distribute to niches of underserved risks,” said Gregg Holtmeier, executive vice president and leader of the InsurTech practice for JLT Re.