Loop, an AI-powered auto insurer recognized as a B-Corp, has recently announced the successful renewal of its reinsurance program. The program, led by top-tier reinsurers and carriers, has been oversubscribed in all aspects.
Maintaining the same level of quota share protection as the previous coverage, the program also projects variable ceding commissions to be on par with the outgoing agreements.
Carey Anne Nadeau, the co-CEO and co-founder of Loop, expressed gratitude towards the world’s leading reinsurers who have shown confidence in their mission and business performance. This support allows Loop to operate in a capital-light manner and allocate resources towards expanding the customer base globally, leveraging their predictive modeling capabilities to enhance risk assessment.
The newly renewed program will be effective for an extended 15-month term, providing stability and continuity for Loop’s reinsurance strategy. This development marks a significant milestone for the company as it continues to grow and innovate in the insurance industry.