JLT Re partners with insurtech firm for digital product
JLT Re (North America) has partnered with Pact Insurance, a personal auto insurtech company, to create a digital insurance solution to cover established and emerging mobility risks.
Pact offers a fully digital auto insurance product.
“We are excited to partner with Pact as they bring to market digital auto insurance solutions,” said Gregg Holtmeier, executive vice president and leader of the insurtech practice for JLT Re. “In a space as mature as personal auto, programmes must excel with data to compete. Pact has a level of data and underwriting granularity that is rare amongst new entrants. Pact takes data to another level in its plans to distribute to niches of underserved risks”.
Ed Hochberg, CEO of JLT Re (North America), added: “This partnership is a testament to the unique and highly specialized expertise of our insurtech team led by Gregg Holtmeier and Jason Choi, as well as our transportation team led by JJ Johnson,” said Ed Hochberg, CEO of JLT Re (North America).
Paul Lee, CEO, Pact, commented: “Consumer lifestyles are increasingly digital and dynamic, growing the divide between one size fits all coverage and consumer behaviour. We’re pleased to be partnering with JLT Re in bringing to market a modern take on mobility risks. JLT Re continues to deliver tremendous end-to-end value to our programme”.
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