AUSTIN, Texas--(BUSINESS WIRE)--Assurely, an established leader in InsurTech, announced their recently expanded data-driven TigerMark™ Directors and Officers Liability (D&O) insurance program. Adapted for the changes in the capital-raising industry, TigerMark is the only insurance program that properly insures private companies and projects raising capital using Reg A, Reg CF, or Reg506(c) exemptions. TigerMark has powerful features that benefit the entire capital raising ecosystem, including investors and the online platforms/portals enabling the transaction.
Assurely’s updated data-driven technology now supports companies and projects by instantaneously customizing D&O policies to the specific risks faced by each company. Through TigerMark, companies receive an artificial intelligence (AI)-driven insurance recommendation based on their current risks inclusive of customized limits of coverage, in $10,000 increments, across multiple insuring clauses (the parts of the policy covering each risk). Together with industry experts the engine adds more precision to advising companies and is part of Assurely’s Insurance-as-a-Service (IaaS) platform. This process contributes to the Company’s goal to provide precise, budget-conscious coverage while eliminating the frustration of the insurance buying process.
TigerMark’s expansion, supported by Great American Insurance Group and Relm Insurance Ltd. came at a crucial time, as the SEC raised the Reg CF and Reg A limits to $5 million and $75 million - respectively, and the industry’s growth expectations are $200 billion by 2025 at a CAGR of over 15%. The power of TigerMark seamlessly adapts to this growth, surpassing the expected standard of traditional private company D&O insurance that often creates a gap in coverage resulting in insurance incumbents inadequately covering startups and projects raising funds amidst this evolving industry.
“The insurance industry has never seen something like this before. The TigerMark D&O insurance program introduces a whole new way individuals, companies, and capital raising platforms interact with insurance, and now AI allows individual issuers to obtain the coverage they need, when they need it,” said Ty Sagalow, chief insurance officer and co-founder of Assurely. “Our process is groundbreaking for InsurTech and reduces the friction for startups and projects to get the coverage they require while raising capital. TigerMark is a prime example of how Assurely adapts insurance to changing technology, rapidly expanding peer-to-peer marketplaces, and innovative industries.”
“The capital-raising industry is changing and insurance must adapt to those changes. TigerMark has now accomplished that,” said David Carpentier, CEO and co-founder of Assurely. “Companies get insured within budget. Online platforms and portals increase their impact to their customers in the form of a better product at a better price. Investors get a tangible benefit that contributes to increased confidence and trust in those companies raising capital. This makes TigerMark is an ‘everyone wins’ insurance offering and provides the first look into the enormous value created by our recommendation engine and growing Insurance-as-a-Service platform.”
About Assurely
Assurely creates and distributes insurance products for changing industries and innovative companies. Created by prominent insurance leaders, Assurely’s accomplished team and technology are adept at building, providing, and executing precise, cost-effective insurance coverage for businesses and marketplaces, small and large. For more information about how Assurely is changing the insurance industry, visit www.assurely.com.
