US-based property and casualty insurer Skyward Specialty Insurance Group has formed a partnership with insurtech Propeller to bolster its transactional bond business.
Through this partnership, Skyward Specialty seeks to enhance its transactional commercial and subdivision surety writing capabilities.
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Skyward Specialty will leverage Propeller’s online platform that offers fee-free white label URL to automate the surety bond process for customers and agents.
The tie-up will also support Skyward Specialty’s strategy to lead in the speciality lines it serves in transactional surety.
Skyward Specialty vice president and head of commercial surety Chris Gagnon said: “Strong agency partnerships are vital to our success, and we look forward to growing with Propeller as our surety division becomes a force in transactional commercial surety.
“With our existing Tinubu eSurety partnership combined with Propeller’s platform, we integrate cutting-edge technology in the most competitive sector of the surety industry that allows us to adjust with the market instantly.”
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By GlobalDataPropeller co-founder and chief operations officer Chris Kolger stated: “This partnership is a perfect example of automation meeting appetite. Skyward Specialty’s forward-thinking model will allow us to significantly expand our subdivision and cannabis capabilities, which will provide a much-needed spark to the industry.”
In January 2021, Skyward Specialty bought Aegis Surety from K2 Insurance Services for an undisclosed sum.
