The platform provides a number of in-demand services for MGA, insurtech, and embedded insurance customers. The turnkey ‘captive-as-a-service’ solution provides a cost-effective path to building and scaling their own full-stack insurance operations.
Boost Re also offers a conduit to deploy reinsurance capacity across its portfolio of partnerships through dedicated captive cells. By adding this component behind its existing MGA infrastructure and proprietary core technology systems, the insurtech claims to be the industry’s first truly vertically integrated digital insurance company.
Boost Re is now available for risk capital providers seeking entry into the insurance asset class. The platform is also open to stakeholders in MGAs, insurtech, or embedded insurance with an interest in developing full-stack insurance programmes.
Alex Maffeo, CEO & Founder of Boost, explained: “We built Boost to provide our customers with a scalable, long-term solution for building or expanding their insurance business, and Boost Re is the next stage in that vision.”
He continued: “By enabling our customers to build a full stack business on Boost Re’s rails, we can offer the same control, reliability, and safety of engaging directly with carriers or reinsurers – at a fraction of the time and cost.”
Boost Re operates as a wholly-owned subsidiary of Boost Insurance. This organisational framework empowers Boost to establish and capitalise dedicated risk-transfer vehicles, ensuring segregation of risks.
These vehicles are designed to accommodate a diverse range of risk capital providers, facilitating swift and efficient deployment of reinsurance capacity across insurance programs supported by Boost. The establishment of Boost Re underscores Boost Insurance’s dedication to delivering adaptable and impactful solutions within the insurance sector.
“Boost Re allows us to offer even greater value to our risk capital partners,” said Maffeo. “For our third-party reinsurance partners, there’s peace of mind knowing that we are participating alongside them in the same risks. For alternative risk capital providers, Boost Re serves as a reliable, trustworthy conduit to the returns offered by the emerging asset class of insurance.”
He added: “Given Boost’s deep partnerships with prominent reinsurance partners, robust compliance infrastructure, and multi-year track record of producing consistent underwriting returns, Boost’s stakeholders can scale with the peace of mind that they are building on a well-established foundation and a platform that can support them throughout their growth.”
