Simply Business and biBERK | September 27, 2022
Simply Business, LLC., a Boston-based digital insurance agency focused on small businesses, today announced the launch of a partnership with biBERK Business Insurance, a Berkshire Hathaway company, to offer workers' compensation products online to small business owners in the United States.
Through this new partnership, small business owners can receive a biBERK workers' compensation quote through the Simply Business website. They also have the option to digitally bind policies and speak to a licensed insurance agent to ensure that the coverage they've selected best meets the needs of their business.
"We're committed to helping small businesses grow by providing specially tailored insurance solutions, and this new partnership makes it easier for our customers to get exactly what they need, With the help of biBERK, we're able to provide more comprehensive coverage to entrepreneurs across the country."
-David Summers, Group CEO of Simply Business
This offering is currently available to small business owners in Washington D.C. and all 46 states where private carriers are eligible to operate.
About Simply Business
Simply Business is changing the way small business owners find business insurance by offering customers tailored insurance coverage online. The company began in the United Kingdom and expanded to the United States in 2017, naming Boston home. With over 850,000 customers globally, Simply Business has become a leader in the space through its commitment to a customer-first model, focusing heavily on simplicity, choice and value.
biBERK is a small business insurance company that's part of the Berkshire Hathaway Insurance Group. All of Company's major insurance subsidiaries are rated A++ by A M Best Company with millions of customers and over 75 years of insurance experience.
Capsule and Vouch | November 11, 2022
Capsule, a specialist insurance provider to high-growth companies in the UK, today announced a partnership with Vouch, a San Francisco-based insurance platform that provides business insurance for high-growth technology startups in the US. With this partnership, the two companies will work together to ensure that they can support their clients' needs internationally. The partnership comes just a year after Capsule's launch and will help startups and tech innovators across all the main markets protect themselves as they grow.
As part of the partnership, Capsule will also assist Vouch's US venture and incubator partners with their UK portfolio companies, and Vouch has made an investment in Capsule. The additional funding will be used by Capsule to advance its technology and recruitment. Since Capsule launched in September 2021, the company acts for some of the country's top startups and scale-ups including Onfido, Codat, Otta, Hofy and Castore, and has in recent months partnered with SeedLegals, Crowdcube and a number of leading VCs. Prior to launching Capsule, co-founders Thomas Wynne and Liam Green successfully scaled and sold UK insurance group Kingsbridge in a nine-figure exit to US-based NSM in March 2020.
Vouch, founded by CEO Sam Hodges (formerly CEO of Funding Circle US) and CRO Travis Hedge (formerly of Silicon Valley Bank), is a new kind of insurance platform for startups that offers fully digital, tailored coverage that takes minutes to activate. With over $160 million raised to date from the likes of Y Combinator, Ribbit Capital, Silicon Valley Bank and Index Ventures, as well as a recent valuation of over $550 million, Vouch has cemented its status as a 'soonicorn' with its sights firmly set on the next stage of business growth.
"Vouch is committed to protecting founders and company builders where they are today and where they'll be tomorrow. Our partnership with Capsule represents an important first step in our plan to provide holistic international risk management solutions, so our clients can protect their global operations with the same ease and confidence they experience with us today. We're excited to start this journey with the Capsule team."
-Sam Hodges, CEO of Vouch
Thomas Wynne, Co-Founder and CEO of Capsule, added: The hyper-growth startups we support have global aspirations. Yet even the most sophisticated teams face a steep learning curve when scaling their risk management programs internationally. Our partnership with Vouch enables us to solve insurance holistically across markets and unlock further growth.
Capsule is a specialist insurance provider that helps startups and scale-ups in sectors such as Web3, Fintech, Enterprise (SaaS) and Consumer Tech navigate the risks of rapid expansion by ensuring they have the proper protection in place. Specialising in cover for businesses from seed stage through to IPO, Capsule offers policies including Directors' and Officers', Key Person, Professional Indemnity and Cyber Liability insurance, as well as many others. Their advice is geared for growth ('Capsule' is an anagram of 'scale-up') and backed by state-of-the-art technology that tracks clients across more than 300 data points. As a certified B Corporation, Capsule is also committed to using business as a force for good. Their team is equally passionate about helping similarly mission-driven and impactful organisations get these factors recognised and rewarded by the insurance sector.
Vouch is a US-based provider of business insurance to thousands of high-growth companies. Since its inception in 2018, the company has empowered its clients to get risk management right through niche expertise, a proprietary approach to pricing and underwriting, fast, digital-first procurement and coverages that scale as the company grows.
Hourly.io | November 14, 2022
Hourly.io, a fast-growing workers' comp and payroll startup, announced today that it is expanding its reach through its collaboration with Cincinnati-based Great American Insurance Group.
In this expanded collaboration, Hourly will serve as a Managing General Agent (MGA), leveraging its underwriting expertise and unique workers' compensation and payroll technology with Great American's well-established reputation. Established in 2018, Hourly offers a full-service platform that connects workers' comp, time tracking, and payroll in real-time for small and medium-sized business owners with hourly workers, an innovation that ensures premiums are calculated accurately using real-time data analytics. Hourly is the only company in the industry to bridge the gap between workers' comp, payroll, and time and attendance.
"Collaborating with Great American Insurance Group was the clear choice when deciding how we will expand and develop new business in our next phase of growth, Great American is the perfect match for Hourly's next stage of evolution. We're excited to align with them and help small businesses gain better insights into their exact labor costs and provide them with better tools to manage those costs, including workers' comp premiums."
-Hourly Co-founder and CEO Tom Sagi
As a longstanding player in the insurance industry, Great American Insurance Group's roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. The company provides insurance products and services aimed primarily at the property and casualty insurance markets and focuses on specialty commercial products for businesses. The relationship will bring together Hourly's leading-edge technology and Great American's established credibility to better meet the needs of more clients.
We're excited to build on our collaboration with Hourly, Both Hourly and Great American Insurance Group share the same commitment to helping these businesses protect their employees. We are impressed with the cutting-edge technology Hourly will bring to Great American and the team's first-rate underwriting abilities,said Richard Suter, Divisional President, Great American Alternative Markets.
In October 2022, Hourly announced that it expanded its $27M Series A to $32M. The Series A was led by Glilot Capital Partners with participation from S Capital, Vintage Investment Partners, J-Ventures, Upshot Ventures, MS&AD, and Sienna VC.
Teh Chen, Hourly's Chief Revenue Officer said, The workers' comp industry is ripe for innovation and disruption—and I'm excited to leverage technology to simplify workers' comp for employers, help prevent injuries for employees, and outperform the market. Our expanded collaboration with Great American are big steps in making insurance more accessible and affordable for businesses across the country.
Headquartered in Palo Alto, California, Hourly.io is an insurtech startup offering workers' comp insurance and full-service payroll for small and medium businesses with hourly workers. Powered by real-time data, Hourly's platform ensures running payroll is as quick as pressing a button and that you get accurate workers' comp premiums down to the penny.
About Great American Insurance Group
Great American Insurance Group's roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses. Great American Insurance Company has received an "A" (Excellent) or higher rating from the A.M. Best Company for more than 110 years (most recent rating evaluation of "A+" (Superior) affirmed December 3, 2021). The members of Great American Insurance Group are subsidiaries of American Financial Group, Inc. (AFG), also based in Cincinnati, Ohio. AFG's common stock is listed and traded on the New York Stock Exchange under the symbol AFG. Policies are underwritten by Great American Insurance Company, Great American Alliance Insurance Company, Great American Assurance Company and Great American Insurance Company of New York, authorized insurers in all 50 states and the DC., 301 E. Fourth St., Cincinnati, OH 45202.