The startup operates a specialty lines insurance distribution platform that utilizes insurance technology to streamline the distribution process for businesses and corporate clients. By enhancing operational efficiency, the platform enables clients to improve productivity and optimize their insurance management.
Funding
$144.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Retail insurance agents often struggle to find the best coverage and terms for clients with specialty risks, regardless of the size or complexity of the risk. This can be due to limited market access, lack of specialized expertise, and the time-consuming nature of navigating complex insurance products.
Solution
XPT Specialty is a wholesale insurance brokerage and managing general agent (MGA) that provides retail agents with access to a wide range of specialty lines insurance products and programs. XPT offers specialized expertise across diverse industries, including transportation, hospitality, agribusiness, and construction. The company's collaborative partnership culture ensures that clients receive tailored solutions and efficient service, leading to better close ratios and increased profitability. XPT's team of brokers work together to provide clients with the combined expertise of an entire team, ensuring that every insured receives the same amount of time, effort, and expertise.
Target Audience
XPT Specialty primarily serves retail insurance agents seeking access to specialty lines insurance products, expert underwriting, and efficient service for their clients across various industries.
Features
- Access to a wide selection of high-quality products, programs, and carriers unavailable through other insurance brokers
- Exclusive market access to partners, products, and delegated authority
- Specialist expert brokerage with deep industry expertise to find the best coverage for clients
- Teamwork and collaboration to provide clients with the combined expertise of an entire team
- Binding authority to support smaller businesses
- Efficient service from brokerage to underwriting
- Access to the latest developments and innovations in the markets
- Integrations with platforms like AIM™ and Surefyre™ to streamline quoting and accelerate delivery