Boost Insurance announced a new equity investment from BHMS Investments, a private firm specializing in middle-market insurance and related businesses.
Boost Insurance is a digital insurance platform providing comprehensive infrastructure for insurtech startups, MGAs, and embedded insurance innovators.
BHMS joins Boost’s strategic stakeholders, including Markel, RenaissanceRe, Canopius US Holdings, and Boost management.
The funds will support MGA program growth, technology product expansion, and select acquisitions.
Since launching its first program in 2019, Boost has underwritten about $200 bn in insurance coverage for a growing list of clients, including Amwins, Cowbell, Newfront, and Wagmo.
The company provides the infrastructure for MGAs, independent brokers and insurance agents, and emerging digital insurance providers to sell insurance.
Boost leads the market in foundational infrastructure for the growing MGA marketplace. Customers benefit from its advanced technology and expert team, making Boost a comprehensive, collaborative, and scalable solution
Kevin Angelis, Managing Partner of BHMS
“Building Boost correctly required long-term, specialized capital partners. BHMS offers expertise and a proven track record in our industry, making them the ideal partner as we move beyond the venture-backed phase and continue to scale,” said Alex Maffeo, Boost’s Founder & CEO.
Their services integrate compliance, capital, and technology into a single API-based solution, allowing businesses to launch insurance products quickly and efficiently.
Boost offers customizable insurance products, modern API-driven policy administration, and real-time data insights to support a wide range of insurance needs, including commercial cyber, business owners’ policies, pet health, and even crypto wallet insurance.
The platform enables businesses to save on costs and expedite their go-to-market timelines by packaging the necessary elements to power an insurance program. Boost has supported over $100 bn in coverage since its inception and continues to expand its offerings with a strong focus on innovation and market adaptability.
