14 May 2021Insurance

Integrated Specialty Coverages launches gig economy general liability programme

Integrated Specialty Coverages (ISC), a multi-line programme administrator that builds end-to-end insurance products utilising artificial intelligence (AI) technology and analytics, has launched a unique new general liability policy program geared towards “gig economy” contractors.

The program provides contractors “by the job” flexibility, offering a variety of customisable options while delivering exceptional coverage at competitive rates. The programme is made available through ISC’s AI-enabled platform, and underwritten by Markel Specialty, a division of Markel Corporation.

The programme will be compatible with 30 different construction trades for a variety of classes beyond the typical handyman job, including but not limited to carpentry, electrical, painting, concrete, and janitorial work. Options include liability limits up to $1 million for 1-121 days and are geared specifically to the “gig economy” worker or the “weekend warrior,” with on-demand policy delivery and certification. With automated workflow, these policies can be bound in minutes using ISC’s advanced proprietary online platform, while payments are made seamless through digital payment applications.

“We are thrilled to partner with Markel and leverage our AI-technology and data capabilities to expand ISC’s platform for this growing segment of contractors and provide them with more flexibility and options on shorter-term projects,” said Matthew Grossberg, CEO of Integrated Specialty Coverages. “Markel has an excellent reputation, and we look forward to their support in delivering this product through our robust platform.”

Scott Whitehead, managing director of Markel Insurtech Underwriters, added: “ISC brings a unique relationship to our team. While many of our partners are insurtech start-ups, ISC is a well-established Programme Administrator with an existing distribution network. Combining first-hand industry expertise with technology and analytics, ISC has identified an opportunity to create and distribute new and innovative products that more closely align with the needs of their clients, while also attracting new ones.”

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