Posted In:

Embroker, Insurance


Embroker Launches Direct-to-Customer Online D&O Policy

Published:

Aug 08, 2018


Source:

Posted In:

Embroker, Insurance

Published:

Aug 08, 2018


Source:


Share:

Embroker, a digital commercial insurance brokerage, has launched a fully digital directors and officers (D&O) insurance policy, specifically designed for venture capital (VC) backed tech startups.

The D&O policy is part of Embroker’s new digital Startup Program, which also includes employment practices liability (EPLI), and fiduciary liability insurance, its first through a new partnership with Munich Re’s Digital Partners. The coverage is available instantly and reinsured by Munich Re.

The Embroker program is available in all 50 states to U.S.-based startups that have raised up to $250 million.


The new Embroker D&O coverage is available for purchase by mid-market companies directly online, with coverage available to growth stage and pre-IPO businesses with up to $250 million in funding.

Startups are typically required to purchase D&O insurance as a condition of VC investment, but the traditional process involves sharing sensitive and confidential financial information, including equity ownership and financial statements, and securing coverage can be a lengthy process. Embroker’s Startup Program does not require sharing any sensitive financial information and the process can be completed online within minutes.

Embroker plans to launch similar suites for other industry segments in the coming year. Coverage is not open to agents or brokers. However, Embroker does have a team of experienced insurance professionals that provide consultation and guidance to customers.

Embroker works with over 40 carriers to provide a more modern way to buy commercial insurance. Founded in 2015, Embroker is headquartered in San Francisco, licensed in all 50 states and serves more than 1,800 customers. Embroker’s backers include Caanan, Nyca Partners, XL Innovate, Bee Partners, Fin Tech Collective, Vertical Venture Partners, 500 StartUps and Manulife Capital Ventures.

Share:

Previous Article:
Let's Restart the Hidden Economic Engine
Next Article:
Offering A White-Labeled Lending Service In Emerging Markets, Mines Raises $13 Million
The views expressed here are those of the individual FinTech Collective LLC (together with its affiliates “FTC”) personnel quoted and are not the views of FTC or its affiliates. Certain information contained in here has been obtained from third-party sources, including from portfolio companies of funds managed by FTC. While taken from sources believed to be reliable, FTC has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. In addition, this content may include third-party advertisements; FTC has not reviewed such advertisements and does not endorse any advertising content contained therein.

Any designations found herein have been made by a third party, and although FTC has no reason to believe that such designations, or the criteria for being considered for such designations, are inaccurate or misleading, FTC does not guarantee its accuracy, and such designations may be incomplete or condensed. No compensation was paid in exchange for any designations, endorsements, or testimonials found herein. The hyperlinks referred to herein are provided for your reference only.

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. This content does not constitute an offering or form part of any offering or any solicitation of any offer to subscribe to or purchase any investment by FTC, nor shall it or the fact of its distribution form the basis of, or be relied upon in connection with any contract therefore. Any such offer will be made only by means of definitive investment offering documents. The information included herein is subject to change without notice to any recipient. Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by FTC, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. A list of investments made by funds managed by FTC (excluding investments for which the issuer has not provided permission for FTC to disclose publicly as well as unannounced investments in publicly traded digital assets) is available at https://www.fintech.io/portfolio and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Please see https://www.fintech.io/disclosures for additional important information.