SKYWARD SPECIALTY ENTERS PARTNERSHIP WITH TECH-ENABLED PROPELLER bonds TO ACCELERATE TRANSACTIONAL SURETY EXPANSION
APRIL 19, 2022 (HOUSTON, TX) - Skyward Specialty Insurance Group, Inc. ("Skyward Specialty" or the "Company"), a leader in the specialty property and casualty (P&C) market, revealed today that it has entered into a new partnership with Propeller Inc. ("Propeller" or "Propeller Bonds") to broaden the market access to the Company's transactional bond capabilities.
Skyward Specialty has a demonstrable track record of utilizing advanced technology to augment and enhance its underwriting leadership and add value to its clients. The Company has well-established insurtech partnerships that amplify the solutions it delivers to address the many unique needs of the customers it serves.
Skyward Specialty and Propeller recently partnered to enhance the Company's transactional commercial and subdivision surety writings. Propeller is an online platform that delivers a free, white-labeled URL that automates the surety bond process for customers, agents and obligees, changing how surety bonds are acquired. Skyward Specialty's partnership with Propeller furthers its strategy to rule the niche segments it serves in transactional surety. In addition, this new partnership will expand Skyward Specialty's market reach as it scales the surety division's capabilities nationally.
"Strong agency partnerships are vital to our success, and we look forward to growing with Propeller as our Surety Division becomes a force in transactional commercial surety," said Chris Gagnon, Vice President, Head of Commercial Surety. "With our existing Tinubu®eSurety partnership combined with Propeller's platform, we integrate cutting-edge technology in the most competitive sector of the surety industry that allows us to adjust with the market instantly."
Chris Kolger, Propeller's Co-Founder and Chief Operations Officer, stated, "This partnership is a perfect example of automation meeting appetite. Skyward Specialty's forward-thinking model will allow us to significantly expand our subdivision and cannabis capabilities, which will provide a much-needed spark to the industry."
The Skyward Specialty and Propeller partnership is another example of the Company combining its forward-thinking underwriting and technology DNA to expand its reach nationally in a rapidly developing business segment.
ABOUT PROPELLER BONDS
Propeller Inc. is an insurtech MGA/MGU equipped with a proprietary instant issue surety bond platform. The platform currently houses more than 6,000 instant issue surety bonds, with thousands more to be added by the end of 2022. Propeller private labels the platform for agencies, allowing agents to either purchase bonds for clients or by empowering clients to self-service. Agents are compensated for all purchases via their unique site link. The company partners with highly respected "A" rated carriers.
ABOUT SKYWARD SPECIALTY
Skyward Specialty is a growing specialty insurance company, delivering commercial property and casualty products and solutions on a non-admitted and admitted basis. For its most recent fiscal year, the Company had nearly one billion dollars in gross written premium. The Company has eight underwriting divisions -- Accident & Health, Captives, Global Property, Industry Solutions, Professional Lines, Programs, Surety and Transactional E&S – with a total of 12 underwriting units.
Skyward Specialty's subsidiary insurance companies consist of Houston Specialty Insurance Company, Imperium Insurance Company, Great Midwest Insurance Company, and Oklahoma Specialty Insurance Company. These insurance companies are rated A- (Excellent) by A.M. Best Company. For more information about Skyward Specialty, its people, and its products, please visit www.skywardinsurance.com.
Skyward Specialty Insurance Group