ISC expands Accident Fund relationship with Safebuilt contractors program

Expansive MGA platform Integrated Specialty Coverages (ISC) has expanded its relationship with fronting carrier AF Group to bring additional capacity including Sompo, Everest and Topsail Re to general liability programs for construction contractors on its Safebuilt Insurance Services (SIS Insure) subsidiary.

ISC is backed by Two Sigma and bills itself as an insurtech program administrator that builds end-to-end products utilizing artificial intelligence (AI), technology and data analytics.

SIS Insure offers solutions for general liability and other customized insurance programs for general and commercial contractors and retail businesses.

Its online platform allows construction brokers to quote and bind insurance for their clients “within minutes” using AI technology and data analytics as well as a “robust” distribution channel.

In a statement, the companies said that adding AF Group – which issues policies through Accident Fund and other insurance subsidiaries – extends the capacity of its A rated general liability products.

ISC had previously worked with AF Group through its trucking and transportation business, Paramount General Agency.

ISC founding CEO Matt Grossberg said: “AF Group is an AM Best A (Excellent) rated best-in-class insurance provider, and we look forward to expanding our ability to provide brokers and their construction clients with access to superior general liability insurance programs.”

As previously reported, ISC is backed by Two Sigma’s private equity business Sightway Capital.

This publication revealed in May this year that ISC was eyeing fresh program launches, team additions and an active M&A pipeline after adding to Accident Fund-fronted trucking programs written by Paramount to its online platform.

Paramount was bought last February by ISC, which subsequently added SIS Insure last July and wholesale broker Access Partners Insurance Services in March this year.

The group has four verticals with multiple programs within each vertical, but its largest two verticals – construction and trucking – account for around 50 percent and 45 percent of its premium volume respectively.