Banking

Toronto’s Foxquilt has partnered with Digital Partners, a Munich Re company, to enable them to operate as a full-service insurance provider and co-creator of new, end-to-end insurance products/programs for small businesses.

This Digital Partners collaboration provides the Foxquilt team with the autonomy and capabilities to design innovative products and underwriting and rating algorithms.

“Small businesses deserve immediate access to tailor-made insurance solutions that complement their unique operations. However, it requires building new architecture to support data-powered algorithms to afford such value,” said Mark Morissette, CEO and Co-Founder of Foxquilt.

“Our team built a dynamic underwriting platform that rewards business owners with an empowered value offering including simplicity, new products and savings. The progressive platform, Foxden, discerns the nature of the risk, underwrites and rates it, and directs it to a custom-made, proprietary product,.”

Foxden is a full-stack underwriting platform comprised of data-layered, micro-service architecture. Each of its services, including underwriting and rating, are powered by data algorithms to drive actions across the platform.