FitSafe, a risk management and insurance underwriting service for sports and fitness, announced on Thursday that SterlingRisk has acquired minority equity interest in its firm. The New York-based company reported the investment from Sterling will help capitalize further back-end development of its software platform. Speaking about the investment, Founder of FitSafe, Jeff Halevy, stated:
“We are proud to partner with Sterling, another insurance industry innovator with a stellar and long track record of success. With this investment, we are well-positioned to further enhance our software’s capabilities for our upcoming launch later this year.The fitness industry is still in its infancy and I was compelled to create FitSafe as a way to not only make the industry safer, but a way to measurably help the actual operations of its business owners. Sadly, risk management is never on the mind of a gym owner until it’s too late.”
David Sterling, CEO of Sterling, also commented:
“I am excited about FitSafe’s innovation in both the insurance and sports and fitness industries. FitSafe’s technology allows everyone to win — underwriters, brokers and insureds — by improving policyholders’ risk profiles and business operation, boosting underwriters’ portfolio performance and, of course, by creating competitive, lower premiums.”
FitSafe added it is set to launch early in the fourth quarter of this year.