Specialty re/insurer SiriusPoint has made an undisclosed investment in managing general agent (MGA) platform Samos Insurance.
Samos is engaged in offering risk management and Accident Death and Dismemberment (AD&D) insurance solutions.
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The MGA was established as the ‘first on-demand’ AD&D insurance for elective surgeries in the US and Canada to provide cover in case of accidental death during surgery.
Samos’ offering covers planned surgeries such as heart surgery, caesarean sections, joint replacement, and cancer diagnostic procedure.
SiriusPoint US head of accident & health Tom Leonardo said: “The company offers a tech-based insurance and risk management product that deals with a real problem faced by many people going into hospital.”
The policies cover the insured from admission to discharge and will be offered via urgent care and hospitals for the accident-based offerings.
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By GlobalDataSiriusPoint chief operating officer and president of insurance & services Prashanth Gangu said: “Samos is a technology-based MGA which launched with a unique and client-focused product. This kind of pioneering, solution-based insurance is a perfect fit for SiriusPoint’s partnership and investment profile.”
Samos founder and CEO Eric Blondee said: “We are delighted to have SiriusPoint as an investor. They will be able to support the company and help direct the product and the process – getting our services to the people that need it the most. SiriusPoint will be fundamental in our growth process.” In April this year, SiriusPoint invested in insurance technology company Broker Buddha.
