Boost Insurance launches Boost Re

Insurance infrastructure company Boost Insurance has announced the launch of Boost Re, a new risk transfer platform, as the latest component of Boost’s comprehensive insurance-as-a-service stack.

According to the company Boost Re offers significant benefits to both Boost’s customers and its reinsurance partners. For MGA, insurtech, and embedded insurance customers, Boost Re’s turnkey captive-as-a-service solution offers a highly cost-effective path to building and scaling their own full-stack insurance operations. For alternative risk capital providers, Boost Re provides a reliable and streamlined conduit to deploy reinsurance capacity across Boost-powered insurance programs through dedicated captive cells. By adding this key component behind its existing MGA infrastructure and proprietary core technology systems, Boost can claim to be the industry's first truly vertically integrated digital insurance company.

With the addition of Boost Re, the company’s MGA, insurtech, and embedded insurance partners can now provide their own reinsurance capacity to sit behind the programs they build on Boost’s infrastructure. The company added that with Boost Re’s captive-as-a-service offering, Boost’s partners can now achieve all of the benefits of becoming a "full-stack" carrier - such as participating in underwriting returns, having increased product and operational control over their programs, and receiving unparalleled transparency into their program’s data - at a fraction of the traditional cost, capital requirements, or potential valuation compression that comes with building a full-stack insurance business.

“We built Boost to provide our customers with a scalable, long-term solution for building or expanding their insurance business, and Boost Re is the next stage in that vision,” said Alex Maffeo, chief executive & founder of Boost. “By enabling our customers to build a full stack business on Boost Re’s rails, we can offer the same control, reliability, and safety of engaging directly with carriers or reinsurers - at a fraction of the time and cost.”

Boost Re is structured as a US-domiciled protected cell captive insurance company and wholly owned subsidiary of Boost Insurance. This enables Boost to establish and capitalise dedicated and segregated risk-transfer vehicles for a diverse group of risk capital providers to quickly and efficiently deploy reinsurance capacity across Boost-powered insurance programs.

“Boost Re allows us to offer even greater value to our risk capital partners,” said Maffeo. “For our third-party reinsurance partners, there’s peace of mind knowing that we are participating alongside them in the same risks. For alternative risk capital providers, Boost Re serves as a reliable, trustworthy conduit to the returns offered by the emerging asset class of insurance.”