Lumen Risk Services, Transverse to Offer Commercial Property Coverage

Program administrator Lumen Risk Services, in partnership with Transverse Insurance Group, has launched a new commercial property insurance program.

The non-admitted program will initially offer monoline property coverage for multi-family, hospitality, and light commercial property accounts with plans to expand into other lines of coverage. The coverage will be available through Lumen’s new digital platform, KURRENT, designed for the commercial insurance space.

The KURRENT program administration system gives producers access to a portal that accepts submissions, facilitates underwriter communications, centralizes policy document delivery, automates endorsement requests, and provides access to in-force accounts and renewals. It will also deliver real-time analytics on the producer’s book of business at Lumen through a producer dashboard.

Erik Matson, chief executive officer and co-founder at Transverse, said Lumen’s approach to commercial lines insurance combines policy and administration, as well as analytics to help guide distribution partners.

Transverse Insurance Group is a hybrid fronting carrier serving the program, MGA, and reinsurance markets with offices in New Jersey and Texas. Transverse is backed by Virgo Investment Group and partner investors. Founded in 2018 by Erik Matson, CEO, and Dave Paulsson, President and CIO, Transverse is a global facilitator connecting and enabling partners through access to risk capacity and alternative capital on admitted and surplus lines paper.

Topics Commercial Lines Business Insurance Property