Enhance Insurance coverage has launched Enhance Re, a brand new threat switch platform to additional enhance its complete insurance-as-a-service stack.
Enhance Re is structured as a protected cell captive insurance coverage firm.
This construction permits Enhance to create specialised and segregated risk-transfer automobiles, which in flip permits quite a lot of threat capital suppliers to successfully allocate reinsurance capability throughout Enhance-powered insurance coverage programmes.
Enhance Re’s turnkey captive-as-a-service answer permits MGA [managing general agent], insurtech and embedded insurance coverage clients to construct and broaden full-stack insurance coverage programmes.
By way of specialised captive cells, Enhance Re provides a streamlined medium for various threat capital suppliers to deploy reinsurance capability throughout a Enhance-powered insurance coverage programme.
In a press assertion, Enhance mentioned: “By including this key element behind its current MGA infrastructure and proprietary core expertise techniques, Enhance can declare to be the trade’s first really vertically built-in digital insurance coverage firm.”
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Enhance Re additionally permits the corporate’s MGA, insurtech and embedded insurance coverage companions to supply their very own reinsurance capability to strengthen the programmes they develop on Enhance’s infrastructure.
Enhance CEO and founder Alex Maffeo mentioned: “We constructed Enhance to supply our clients with a scalable, long-term answer for constructing or increasing their insurance coverage enterprise, and Enhance Re is the subsequent stage in that imaginative and prescient.
“By enabling our clients to construct a full stack enterprise on Enhance Re’s rails, we are able to supply the identical management, reliability and security of partaking instantly with carriers or reinsurers – at a fraction of the time and price.”
Maffeo added: “For various threat capital suppliers, Enhance Re serves as a dependable, reliable conduit to the returns provided by the rising asset class of insurance coverage.”