MarketScout invests in cyber insurtech start-up Wingman

MarketScout, the electronic insurance exchange and specialty managing general agent (MGA) in the US, has invested in cyber insurtech platform Wingman.

Wingman claims to provide retail agents access to cyber insurance coverage in a 60-second quote to bind electronic format.

MarketScout will place Wingman in its MGA Accelerator program.

MarketScout described Wingman as “by far the most impressive quote to bind offering we have analyzed”.

“The Wingman offering provides retail agents the ability to quote, bind, pay, and issue policies in less than three minutes. Many talk about this efficiency but few are able to actually deliver. Wingman delivers,” said Richard Kerr, CEO of MarketScout.

G. Philip Feldman, CEO of Wingman, said: “We are excited about our partnership with MarketScout. We share the common goals of making insurance buying as easy as an Amazon purchase and only offering the broad policy coverage policyholders expect.”

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

More of today's news

Cyber attacks intensify as progress on security ‘stalls’, finds report

Axon launches new reinsurer with capacity expansion in Asia

Aon merges construction and inland marine groups in growth strategy

Prudential closes $2.6bn pre-Brexit longevity reinsurance deals

Brightside brings new COO on board to focus on digital strategy

Don't miss our insurtech email newsletter - sign up today