Insurtech Assurely has announced the expansion of their TigerMark Directors and Officers Liability (D&O) insurance program. Assurely is the only insurance platform publicly promoting its exempt securities insurance program. Assurely insures companies and platforms using Reg CF, Reg A+ and Reg D 506c
According to a note from the company, Assurely now supports companies and projects by instantaneously customizing D&O policies to the specific risks faced by each company. By utilizing its TigerMark product, companies receive an artificial intelligence (AI)-driven insurance recommendation based on their current risks inclusive of customized limits of coverage, in $10,000 increments, across multiple insuring clauses.
This expansion is being supported by Great American Insurance Group and Relm Insurance Ltd.
Assurely points to the fact that recently the SEC raised the Reg CF and Reg A limits to $5 million and $75 million – respectively. This improvement, among others, is helping to drive interest from firms in need of growth capital. Tigermark is actively pursuing this business – one that is expected to be measured in tens of billions, or hundreds of billions in 2022.
Ty Sagalow, Chief Insurance Officer and co-founder of Assurely, said the insurance industry has never seen something like this before:
“The TigerMark D&O insurance program introduces a whole new way individuals, companies, and capital raising platforms interact with insurance, and now AI allows individual issuers to obtain the coverage they need, when they need it. Our process is groundbreaking for InsurTech and reduces the friction for startups and projects to get the coverage they require while raising capital. TigerMark is a prime example of how Assurely adapts insurance to changing technology, rapidly expanding peer-to-peer marketplaces, and innovative industries.”
David Carpentier, CEO and co-founder of Assurely, added that the capital raising industry is changing and insurance must adapt to these changes:
“Companies get insured within budget. Online platforms and portals increase their impact to their customers in the form of a better product at a better price. Investors get a tangible benefit that contributes to increased confidence and trust in those companies raising capital. This makes TigerMark is an ‘everyone wins’ insurance offering and provides the first look into the enormous value created by our recommendation engine and growing Insurance-as-a-Service platform.”