Markets/Coverages: Skyward, InShare Offer Gig Accident Cover; London Underwriters Adds Slice; Hippo Grows Mortgage Channel

June 23, 2022
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InShare and Skyward Target Gig Driver Firms With Accident Insurance

Managing general agent (MGA) InShare and Skyward Specialty Insurance Group Inc. announced the launch of an occupational accident insurance offering for independent workers across a number of segments, including trucking, rideshare and gig delivery.

Co-developed with Skyward Specialty, the offering provides benefits for independent contractor drivers through the companies with whom they contract.

Transportation and logistics companies will be able to purchase the insurance for the benefit of independent contractor drivers. The product is available to the trucking industry where many drivers are independent contractors and apps-based businesses such as Uber, Lyft, DoorDash, and others.

Kirby Hill, president, Industry Solutions, Specialty Programs & Captives at Skyward Specialty, said while technology enables employees to work on-demand, this can present new risks for organizations. The new product can address this protection gap, he said.

Scottsdale-based InShare specializes in insurance for sharing economy platforms and adjacent markets.

“We believe independent contractors should have access to the same kind of protections that full-time workers enjoy, but until now, there weren’t many options,” said Mark Warnquist, CEO and co-founder of InShare.

He cited a 2019 Gallup Poll showing that 36% of U.S. workers — or 57.5 million people— were engaged in some form of independent work.

London Underwriters Launches With Slice to Cover Small Businesses

On-demand platform company Slice Labs Inc. is giving London Underwriters’ agents access to Slice’s 100% digital platform for small business coverage. Agents can quote in 30 seconds and issue in under five minutes, according to Slice..

The product is under the Slice brand and includes general liability coverage for artisan contractors, general contractors and remodelers.

“Working with London Underwriters expands our reach and our ability to continue to empower agents with products to protect small businesses,” said Tim Attia, co-founder and CEO of Slice.

While its partnership with Slice is new, offering agents access to insurtech insurance programs is not new for Florida-based wholesale broker London Underwriters. In addition to its traditional brokerage markets, it already provides access to insurtechs including Next, Pie, Neptune, Coterie, Attune, bunch, Ethos, HiscoxNow and USLI.

Hippo Expands Mortgage Partner Channel

Hippo Insurance Services announced the expansion of its mortgage partner channel that offers loan originator and servicer partner customers with an opportunity to purchase home insurance in minutes. Hippo launched the program about one year ago.

According to Hippo, 80% of home buyers need financing and 100% of lenders require proof of home insurance coverage before closing.

Applicants receive purchase-ready insurance quotes in seconds without needing to answer lengthy questionnaires, and can complete the entire purchase process with Hippo in as little as four minutes, according to Hippo.

Rick McCathron, CEO and president of Hippo, said he expects the channel to become one of Hippo’s “key pillars for growth, as consumers look more and more to digital avenues to address their home ownership needs.” The company said it is now collaborating with a growing list of lenders and servicing companies that serve more than 7 million customers nationwide.

Hippo Holdings Inc. operating subsidiaries include Hippo Insurance Services, Hippo Home Care, First Connect Insurance Services, Spinnaker Insurance Co., Spinnaker Specialty Insurance Co., and Mainsail Insurance Co.

Topics Underwriting London

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