Canadian insurance company Foxquilt to collaborate with Digital Partners

Foxquilt has recently started a partnership with Digital Partners in order to allow the company to operate as a full-service insurance provider and co-creator of new, end-to-end insurance products/programs for small businesses.

Indeed, the CEO of the company stated that small businesses deserve immediate access to tailor-made insurance solutions that could complement their unique operations. But to do so, there is a need to build a new architecture to support data-powered algorithms to afford such value.

The partnership will then give the company the autonomy and capabilities it needs to design innovative products and underwriting and rating algorithms.

This is the first collaboration of Digital Partners in Canada and they will support Foxquilt in the Canadian SME insurance market. The partnership will seek to leverage smart data and machine intelligence to efficiently underwrite small business risks and adapt business coverage as clients grow.

Moreover, working with Digital Partners will allow Foxquilt to become the leading commercial insurance technology company in North America. In February, Foxquilt is expected to launch its initial commercial lines products in Canada, which they will expand into the U.S. in the spring.