Foxquilt, a digital managing general agent (MGA) specializing in embedded insurance technology for small businesses, has announced the launch of its proprietary insurance products in New York.
Through its platform, Foxden, the company said that it will offer tailored coverage for contractors, eCommerce businesses, and personal service providers. The products will be accessible through a network of partner agents, wholesalers, and enterprises.
The platform uses multi-operational rating and digital underwriting algorithms to deliver customized insurance solutions to small businesses across the United States and Canada.
Foxquilt said that its straight-through online process allows users to quote, purchase, and receive policy documents in minutes, streamlining the insurance buying experience for business owners and agents.
A 2023 survey conducted by Big I NY highlighted disruptions in the commercial insurance market, with 87% of agents reporting that carriers were limiting new business and 100% noting restricted coverage through exclusions or increased deductibles.
With this launch, Foxquilt said that it aims to address these challenges by introducing its solutions in New York, a state that the company views as a key milestone in its expansion.
The company’s entry into New York includes coverage for contractor general liability, targeting interior contracting work in the five boroughs, an area where many carriers have limited their presence.
Read More: Foxquilt raises $8 million in Series A funding
Josh Reznick (pictured above), chief distribution officer at Foxquilt, noted that the launch provides much-needed capacity for small businesses in New York.
“This launch fills a major capacity gap in the state, providing small business owners with streamlined, accessible coverage tailored to their needs. We’re excited to work alongside our agency and enterprise partner network to empower New York businesses to thrive with confidence,” he said.
As part of its broader growth strategy, Foxquilt also said that it continues to expand its digital access across the United States. The company is focused on building its network of embedded partners and enhancing its agent platform to support small business owners and insurance professionals.
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