Insurtech Foxquilt, a North American digital MGA specializing in embedded insurance technology for small businesses, has launched of its digital insurance products in New York.
Through Foxquilt’s platform, Foxden, small business owners in New York can now access tailored insurance solutions for Contractors, eCommerce, and Personal Services through a network of partner agents, wholesalers, and enterprises.
Foxquilt uses multi-operational rating and digital underwriting algorithms to provide custom-built insurance solutions for small business owners across the United States and Canada. With Foxquilt’s straight-through online process, business owners, and insurance agents can seamlessly quote, purchase, and receive policy documents in minutes.
A recent Big I NY survey highlights significant challenges in New York’s commercial insurance sector. The survey reveals that 87% of agents have observed carriers limiting new business, and all respondents have noted restricted coverage through exclusions or increased deductibles.
In this constrained market, Foxquilt’s entry into New York marks a pivotal development. The company offers tailored, affordable policies designed to support small businesses and insurance professionals. Leveraging an advanced underwriting platform and a fully digital process, Foxquilt aims to address the current capacity limitations with confidence and profitability.
This launch fills a major capacity gap in the state, providing small business owners with streamlined, accessible coverage tailored to their needs. We’re excited to work alongside our agency and enterprise partner network to empower New York businesses to thrive with confidence
Josh Reznick, Chief Distribution Officer at Foxquilt
Foxquilt’s entry into New York stands out for its appetite for Contractor General Liability, covering interior contracting work in the five boroughs—a challenging market often underserved by carriers. With many insurers withdrawing, Foxquilt’s digital distribution, specialized products, and expert underwriting address the gap, making this move timely and strategic.
Foxquilt brings a fresh approach to a market filled with outdated systems, offering modern insurance solutions that drive success for business owners and agents. Their efficient, affordable small business insurance includes features like Blanket Additional Insured, direct billing, fee-free payment plans, and no underwriting holds, empowering agents to provide better service.
Focused on small business insurance, Foxquilt employs an embedded distribution model to streamline the process. It underwrites and distributes a wide range of its own commercial insurance products across the United States and Canada.
The company continues to expand its reach across the United States, enhancing its suite of embedded partnerships and agent platform. This ensures both small business owners and insurance professionals have access to seamless support whenever and wherever they need it.
By leveraging data analytics and artificial intelligence, Foxquilt tailors coverage and pricing to meet the needs of its small business clients through agents, brokers, and enterprise partners.
