Greenlight Capital Re, through its Greenlight Re Innovations, announced an investment in Vertical Insure, Inc., a Minneapolis, Minnesota-based embedded insurance program.
Vertical Insure addresses distribution inefficiencies by embedding insurance vertical Software as a Service (SaaS) platforms. Vertical Insure works with managing general agents and carriers to provide additional distribution streams while providing its SaaS partners with a new source of revenue.
Greenlight Re CEO Simon Burton said that Vertical Insure will generate unique underwriting opportunities by tailoring embedded insurance products for industry-specific SaaS platforms and their clients.
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