In the US, a national electronic insurance exchange and specialty MGA MarketScout has invested in InsurTech platform Wingman via MarketScout’s venture arm.
Wingman’s differentiation is based on its focus on commercial insurance for startups including Property, GL, E&O, Cyber, D&O and Fiduciary duty coverage. It has also developed a white label underwriting platform for brokers in addition to tailored cyber insurance coverage for technology companies and for companies particularly reliant on databases for their business.
Wingman Insurance is focused on cyber insurance and commercial insurance for startups.
Wingman enables retail agents access to Cyber Insurance Coverage in a 60-second quote to bind electronic format. Policies are delivered within two minutes and markets consist of A rated insurers.
According to Richard Kerr, CEO of MarketScout, the investment into Wingman makes sense because it is” by far the most impressive quote to bind offering we have analyzed. The Wingman offering provides retail agents the ability to quote, bind, pay, and issue policies in less than three minutes. Many talk about this efficiency but few are able to actually deliver.”