Specialty (re)insurer SiriusPoint has partnered with Vouch Insurance, a new insurance platform for startups, to provide multi-year underwriting capacity to the venture. It will also invest in Vouch’s Series-C funding.
Vouch offers P&C insurance to US startups. Cover includes property, general liability, D&O, employment practice liability, cyber and a new ‘work from anywhere’ policy in response to changes in work practices following the pandemic.
Prashanth Gangu, chief operating officer at SiriusPoint, said traditional insurers have “struggled” to underwrite risks for startup businesses. “We welcome Vouch to our growing portfolio of technology and customer-focused partnerships driving disruptive change in the insurance industry,” Mr Gangu said.
Vouch said SiriusPoint’s underwriting capacity and investment will drive a “scale-up” of its operations.
“It will allow us and our talented and driven team to grow our market position significantly,” said Sam Hodges, CEO and co-founder of Vouch.