About Obsidian

Obsidian is a program insurance fronting platform that partners exclusively with managing general agents (MGAs) and program administrators to provide tailored fronting solutions. By retaining risk on programs and leveraging strong underwriting expertise, Obsidian addresses the specific needs of MGAs while ensuring efficient operations without the legacy costs of traditional carriers.

```xml <problem> Managing General Agents (MGAs) and program administrators often face challenges in finding suitable fronting solutions due to the complexities of risk management and the operational overhead associated with traditional carriers. Channel conflicts and the need for specialized underwriting expertise further complicate the process. </problem> <solution> Obsidian is a program insurance fronting platform focused on providing tailored solutions exclusively to MGAs and program administrators. By retaining risk on the programs they support, Obsidian aligns its economic interests with its partners, fostering long-term relationships. The platform leverages underwriting and actuarial acumen to assess portfolio profitability and offers efficient operations without the legacy costs associated with traditional carriers. Obsidian's model eliminates channel conflicts, allowing for specialization and a high level of service to its program managers and reinsurance partners. </solution> <features> - Exclusive partnerships with MGAs and program administrators - Risk retention on programs to ensure economic alignment - Strong underwriting and actuarial expertise for risk assessment - Efficient operations without legacy expense structures - Specialization to meet the specific fronting needs of MGAs and reinsurers - No channel conflicts due to a singular focus on fronting - "A-" AM Best Rating </features> <target_audience> Obsidian's primary target audience consists of Managing General Agents (MGAs) and program administrators seeking specialized fronting solutions and long-term program partnerships. </target_audience> ```

What does Obsidian do?

Where is Obsidian located?

Obsidian is based in East New York, United States.

When was Obsidian founded?

Obsidian was founded in 2020.

How much funding has Obsidian raised?

Obsidian has raised 100000000.

Location

East New York, United States

Founded

2020

Funding

100000000

Employees

43 employees

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Obsidian

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Executive Summary

obsidianspecialty.com 1K+

Founded 2020 – East New York, United States

Funding

Estimated Funding

$100M+

Team (40+)

No team information available.

Company Description

Problem

Managing General Agents (MGAs) and program administrators often face challenges in finding suitable fronting solutions due to the complexities of risk management and the operational overhead associated with traditional carriers. Channel conflicts and the need for specialized underwriting expertise further complicate the process.

Solution

Obsidian is a program insurance fronting platform focused on providing tailored solutions exclusively to MGAs and program administrators. By retaining risk on the programs they support, Obsidian aligns its economic interests with its partners, fostering long-term relationships. The platform leverages underwriting and actuarial acumen to assess portfolio profitability and offers efficient operations without the legacy costs associated with traditional carriers. Obsidian's model eliminates channel conflicts, allowing for specialization and a high level of service to its program managers and reinsurance partners.

Features

Exclusive partnerships with MGAs and program administrators

Risk retention on programs to ensure economic alignment

Strong underwriting and actuarial expertise for risk assessment

Efficient operations without legacy expense structures

Specialization to meet the specific fronting needs of MGAs and reinsurers

No channel conflicts due to a singular focus on fronting

"A-" AM Best Rating

Target Audience

Obsidian's primary target audience consists of Managing General Agents (MGAs) and program administrators seeking specialized fronting solutions and long-term program partnerships.