Specialty re/insurer SiriusPoint has made an undisclosed funding in managing basic agent (MGA) platform Samos Insurance coverage.
Samos is engaged in providing danger administration and Accident Demise and Dismemberment (AD&D) insurance coverage options.
The MGA was established because the ‘first on-demand’ AD&D insurance coverage for elective surgical procedures within the US and Canada to offer cowl in case of unintentional demise throughout surgical procedure.
Samos’ providing covers deliberate surgical procedures akin to coronary heart surgical procedure, caesarean sections, joint alternative, and most cancers diagnostic process.
SiriusPoint US head of accident & well being Tom Leonardo mentioned: “The corporate provides a tech-based insurance coverage and danger administration product that offers with an actual drawback confronted by many individuals going into hospital.”
The insurance policies cowl the insured from admission to discharge and will probably be provided through pressing care and hospitals for the accident-based choices.
SiriusPoint chief working officer and president of insurance coverage & providers Prashanth Gangu mentioned: “Samos is a technology-based MGA which launched with a novel and client-focused product. This sort of pioneering, solution-based insurance coverage is an ideal match for SiriusPoint’s partnership and funding profile.”
Samos founder and CEO Eric Blondee mentioned: “We’re delighted to have SiriusPoint as an investor. They are going to have the ability to help the corporate and assist direct the product and the method – getting our providers to the those who want it probably the most. SiriusPoint will probably be elementary in our development course of.” In April this yr, SiriusPoint invested in insurance coverage expertise firm Dealer Buddha.