The small business insurance provider also introduced new solutions for contractors in Canada
Foxquilt, a leading North American insurtech company focused on empowering small business owners with customized insurance products uniquely matched to their needs, announced that its commercial insurance offerings will be available to small business owners in the U.S. for the first time. Launching initially in 45 states, and available nationwide in Canada, the insurtech will ensure that business owners across North America are able to take advantage of its unique insurance offerings and services. In addition, Foxquilt is also announcing a streamlined suite of online insurance options for contractors in Canada. With the geographic and product expansions, Foxquilt is transforming the insurance industry with offerings spanning direct to consumer, along with embedded insurance solutions for larger B2B enterprises and marketplaces – all with a digital-first approach.
Through the Foxquilt platform, small business owners, now including contractors, are able to customize their business insurance policies in real time through its intuitive technology-first solution. Foxquilt provides a quick and easy way to create an entirely customized policy online, allowing them to spend less time on their insurance so they can start working on projects sooner. Contractors can also receive their Certificates of Insurance with Foxquilt instantly. This allows contractors to get on the jobsite and start projects faster without having to wait for a broker – saving hours, and even days, of time.
“Fresh on the heels of our Series A funding round we are thrilled to show small business owners how we are putting the capital to use in changing how insurance is purchased, not just in Canada, but in the U.S. as well,” said Mark Morissette, CEO and Co-Founder of Foxquilt. “Through our innovative platform and suite of customized products, our mission is to emancipate the small business owner. Whether you are a locksmith or a plumber, we afford each business owner the freedom to build a modular product unique to the needs of their business, saving time and money.”
The pandemic has sparked a wave of digital transformation across the business insurance industry, which has historically been inadequate in supporting the work of 21st century business owners, ultimately leading to loss in revenue and hours of time wasted. The company is committed to building technology that empowers small business owners, enabling them to have more control of their insurance buying experience, instead of being restricted to long wait times, extensive paperwork and a lack of autonomy. Foxquilt’s business insurance, which is available completely online 24/7, was specifically built to support business owner’s entire insurance journeys online, while providing a tailored, customized product. The platform is complemented by a unique data and machine learning underwriting infrastructure, that suggests coverages based on a user’s individual profile and specific needs.
Read More: Flutterwave Enables New Europe-Africa Payment Corridors via Stellar
As the first company to provide business insurance entirely online in Canada, Foxquilt allows small business owners in over 400 professions to quote, buy and instantly receive their business insurance efficiently and more cost-effectively than other solutions available in the marketplace. Excitingly, this current expansion is one of many growth opportunities planned for Foxquilt as they’re continuously adding coverages, professions and geographic areas to their forecast.
Foxquilt is a leading North American Insurance technology company focused on providing small businesses insurance. Foxquilt develops, underwrites and distributes a complete line of its own commercial insurance products in the United States and Canada. The company uses a combination of data analytics and artificial intelligence to recommend the best insurance coverage and price to meet the individual needs of its small business customers.
[To share your insights with us, please write to sghosh@martechseries.com]
