JERSEY CITY, N.J., Sept. 17, 2019 (GLOBE NEWSWIRE) -- SageSure Insurance Managers (SageSure), the largest independent residential property managing general underwriter (MGU) in the U.S., is celebrating the 10-year anniversary of the company’s first written policy.
On September 17, 2009, SageSure issued its first policy on behalf of IAT Insurance Group. This first policy provided a launchpad for what is today a successful enterprise with nearly 300 employees and more than 250,000 policyholders.
“Our goal from the beginning was to be the industry-leading insurance provider for homeowners in cat-exposed areas,” said Terrence McLean, CEO for SageSure. “We believed there would be an ongoing opportunity to serve high-risk markets where it’s difficult to find competitive, reliable property insurance.”
A subsidiary of insurtech firm Insight Catastrophe Group (ICG), SageSure was founded to provide dependable options for challenged markets, offering a unique multi-carrier platform to ensure continuously available competitive products as capacity became more restrictive. Acknowledging that the existing and future players serving coastal markets did not have access to the right tools to properly price and select risk in these cat-exposed markets, ICG and SageSure have worked hard to provide coverage for those who need it most.
Utilizing a team led by experienced professionals with extensive experience in product development, underwriting, sales, technology, and customer service, SageSure delivers products in partnership with many highly rated insurance companies, including IAT Insurance Group, FedNat Insurance Company, Service Insurance Company, and Independent Mutual Fire Insurance Company.
“From our first written policy to today, SageSure has been a strong, professional, and dependable partner,” said William Teed, SVP of Programs at IAT Insurance Group. “We are proud to commemorate our ten years of partnership and look forward to continued mutual success for years to come.”
Today, SageSure offers 41 residential products in 14 states, growing at approximately 30 percent in both policy and employee count each year. In 2020, the company will expand into commercial lines and continue to increase the company’s footprint in underserved markets.
About SageSure Insurance Managers (SageSure)
SageSure Insurance Managers is the largest independent residential property managing general underwriter in the United States. SageSure develops competitively priced property insurance products for its highly rated carrier partners and distributes these products through a growing network of insurance agents and brokers. SageSure offers 41 products in 14 states, managing nearly all operations for more than 250,000 customers. For more information, visit SageSure.com. For more information, please visit the SageSure website at www.sagesure.com.
About IAT Insurance Group
IAT Insurance Group is a privately owned, specialty insurance company providing property and casualty products for businesses and individuals. IAT goes to market through seven business units – Commercial Transportation, Specialty, Programs, Inland Marine, Excess Casualty Mid-Market, Assumed Reinsurance, and Surety. The IAT Insurance Group companies are rated A- Excellent by A.M. Best. Connect with IAT Insurance Group on LinkedIn and Facebook, and learn more about the company at www.iatinsurancegroup.com.
Media Contact:
Jennifer Overhulse
St. Nick Media Services
(859) 803-6597
jen@stnickmedia.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f97b2681-6428-4747-9c75-8410105fee05