Articles from Embroker

Embroker, the digital insurance company radically simplifying the insurance buying experience for businesses, today released its Legal Industry 2025 Risk Index, revealing significant shifts in business priorities within the legal profession year-over-year (YoY). Findings demonstrate rising confidence among law firms, with more deliberate risk management strategies, thoughtful AI integration, and an expanded risk appetite. Moreover, attorneys show a significantly increased confidence and awareness regarding their insurance protections.

Embroker, the digital platform making it radically simple to get business insurance, today announced the appointment of Stephen Easley as Vice President of Underwriting. With over 25 years of experience in Specialty and Professional Lines underwriting, his new position will focus on expanding Embroker’s underwriting capabilities, refining specialty insurance products, and working closely with the team to enhance how coverage is structured for businesses.

Embroker, the digital platform making it radically simple to get business insurance, today released insights on tech companies’ approach to their financial and risk management in 2024. Embroker’s 2024 Business Insurance Index: Tech Sector1 analyzes tech customers’ actual purchase and decision-making behavior for premiums, limits, retention and more. It uncovers how businesses of varying size and scale adjusted their insurance strategies year-over-year (YoY) to manage emerging risks such as AI, regulatory shifts and increasingly sophisticated cyber threats, while maximizing their coverage efficiency given an uncertain economy.

Embroker, the digital insurance company radically simplifying the insurance buying experience for businesses, today released its “2024 Cyber Risk Index: Startup Edition.” The findings show a consistent year-over-year (YOY) increase in cyber insurance adoption – with a greater focus on simplicity, resilience, and investor appeal in a rapidly evolving cyber risk environment.

Over the past year, Embroker, the digital insurance company radically simplifying the insurance buying experience for businesses, has made significant strides in this mission, with new leadership appointments and introducing new AI-powered features to its ONE platform. The company has also expanded its vertical reach, including new comprehensive, tailored coverage programs for real estate, consultants, and financial professionals. The company has also released a new program of policies for law firms on its ONE platform. Embroker has also partnered with Everspan, named 2024’s Fronting Carrier of the Year by Insurance Insider, to further digitize the insurance experience. These achievements not only highlight the momentum Embroker is making in its goal to deliver a seamless insurance buying experience, but also to grow the company’s leadership position in the insurtech industry, setting new standards in digital insurance.

A new study from Embroker found that 79% of tech companies report being cautious about using AI-driven tools, but despite this hesitancy, 69% report already using the technology. The study, titled “2024 Tech Risk Index: AI Enters the Chat as Many Employees (Are Forced to) Leave It,” examines the risks tech companies currently face and how they mitigate them.

Embroker, the digital insurance company radically simplifying the insurance buying experience for businesses, today announced the appointment of Andrew (Andy) Lea as Chief Insurance Officer (CIO) and the promotion of Kristy Malm to Chief Operating Officer (COO).

Embroker, the digital insurance company radically simplifying the insurance buying experience for businesses, today announced its specialized coverage program designed for real estate agents and brokers. The coverage program is built on Embroker’s ONE technology, offering comprehensive professional liability, cyber, business owners’, and worker’s compensation coverage through a seamless, single-application experience.

Embroker, the digital insurance company radically simplifying the insurance buying experience, today announced a strategic partnership with Millennial Shift Technologies (MShift), a leading policy distribution platform for insurance brokers.

Embroker, the digital insurance company radically simplifying the insurance buying experience for businesses, today announced the release of its newest vertical program, created specifically for consultants.

Embroker, the digital insurance company making it radically simple to get business insurance, today released its newest professional vertical program developed specifically for financial services professionals. This offering is unique to the needs of accountants, bookkeepers, and tax preparers, built to handle specific risks around professional liability, cyber liability, and key business owners’ insurance coverages.

Founders are discussing cyber insurance more than ever, with 83% talking to their investors and boards about cyber protection often or always — a 42% increase year-over-year. The report, titled “Cyber Risk Index: Startup Edition 2023” comes from Embroker, the digital platform making it radically simple to get business insurance. Each year, Embroker examines the cybersecurity risks startup founders face and how they mitigate them.

Embroker, the digital platform making it radically simple to get business insurance, today announced strategic partnerships with Dashlane, a security-first password management provider, and Cowbell, a leading provider of cyber insurance for small and medium-sized enterprises (SMEs). With these, Embroker increases customer security through Dashlane’s industry-renowned cyber protection services and expands its Cyber Liability coverage by offering Cowbell Cyber insurance to its existing and prospective customers.

Embroker, the digital platform making it radically simple to get business insurance, today announced the appointment of Ben Jennings as Chief Executive Officer (CEO).

Embroker, the digital platform making it radically simple to get business insurance, released new data revealing founders are still anxious about tight fiscal conditions in Q2 2023. The insights come from the company’s quarterly Risk & Response Index, in which Embroker analyzes real-time business insurance shopping behaviors to uncover risk trends and sentiments within the startup sector.

Embroker, the digital platform making it radically simple to get business insurance, today announced the release of its digital Excess Tech Errors & Omissions (E&O) Product, available immediately to brokers. The Embroker platform widens the number of policies brokers can write over while decreasing the time it takes to source this excess coverage, with limits up to $5 million.

New data released today found that startup founders are relying on messaging professionals, insurance, cash and layoffs in the post-SVB, pre-recession economy, after 84% of startup founders report experiencing an impact from the historic closure. The data comes from Embroker’s 2023 Risk Index Report, examining the risks startup founders are facing, and how they mitigate them.

Embroker, the digital platform making it radically simple to get business insurance, today released insights on startups’ financial and risk behavior in 2022 — amidst surging inflation, geopolitical conflicts, rising interest rates, and a depressed funding market. The 3rd Annual Embroker Vertical Insurance Index: Startup Snapshot1 reveals that many founders maintained only the most critical insurance coverage in an effort to stretch their fiscal runways while mitigating their risk exposure.

New insurance industry insights show that following the closure of Silicon Valley Bank (SVB), VC-backed startups were increasingly looking for stronger protection, specifically liability policies covering company executives. Embroker, the digital platform making it radically simple to get business insurance, found that 15% of shoppers looked at doubling and sometimes tripling their Directors and Officers (D&O) insurance limits week-over-week, up from 7% the week before the SVB collapse. This data is one of many findings in the company’s Q1 2023 edition of Embroker’s quarterly Risk & Response summary, revealing that startups are anxiously steeling themselves in the event that their own assets are compromised.

Embroker, the digital insurance platform making it a radically simple single destination to get business insurance, announced that Chris Spagnuolo has come on board as Chief Product Officer (CPO). He joins the team at a pivotal time to continue fueling Embroker’s momentum in developing innovative insurance products for business verticals.

Embroker, the digital insurance platform making it radically simple to get business insurance, today introduced its new malpractice and cyber bundle for law firms. This bundle - its first vertical offering built on the new ONE by Embroker platform - allows law firms to get the right malpractice and cyber coverage, built based on their needs, in a transparent and efficient manner.

Embroker, the digital platform making it radically simple to get business insurance, today introduced ONE by Embroker — a universal application that utilizes AI and machine-learning technologies to generate business insurance products tailored to specific industry needs. The streamlined process focuses on critical business information and removes the need for unnecessary and redundant questions, enabling brokers and startup founders to get quotes for a comprehensive bundle of products instantly.

Today Embroker, the digital platform making it radically simple to get business insurance, released a new report, the Cyber Risk Index: Startup Edition, based on a survey of 400+ VC-backed startup founders. The findings show that despite the significant economic headwinds startups currently face – from a challenging fundraising landscape to inflation woes and difficult operational decisions – founders remain pointedly focused on advancing their cybersecurity protections now, and moving forward.

Embroker, the digital platform making it radically simple to get business insurance, today announced a partnership with LastPass, the award-winning password manager for businesses, to provide a single-destination, secure option for all customers looking for cyber protection. This partnership allows Embroker to better protect new and existing customers from potential cybersecurity attacks through LastPass’ password management and real-time dark web monitoring. Embroker chose LastPass as a key partner in this endeavor due to their market-leading expertise and expansive customer base. Their extensive offerings are essential for businesses, including administrator controls, reporting on login activity, directory integrations, federated login and much more.

Embroker, the digital platform making it radically simple to get business insurance, announced that David Derigiotis has joined as Chief Insurance Officer (CIO). Derigiotis comes on board at a pivotal time to continue Embroker’s momentum, and lead the development of Embroker’s innovative insurance vertical products, particularly cybersecurity, technology and privacy offerings.

Embroker, the digital platform making it radically simple to get business insurance, today announced the launch of three new insurance products - one for cannabis dispensaries, one for venture capital firms and one for key business leaders.

In an addendum to its Startup Risk Index 2022 report, commercial insurtech Embroker recently conducted a Risk, Reputation and Reproductive Rights survey of over 500 VC-backed startup founders to explore if and how their perceptions around risk are shifting due to the overturning of Roe v. Wade. This occurred as a result of the U.S. Supreme Court’s recent landmark ruling on Dobbs v. Jackson Women's Health Organization, determining that the Constitution does not confer a right to abortion.

As VC-backed startups enter an unprecedented era of risk, a new report finds that rising costs, employee concerns and inflation weigh heavily on the minds of founders in 2022. The report, the Startup Risk Index 2022, released today from commercial insurtech Embroker, delves into the mindset of founders to understand the threats to their business and how they consider, plan and respond to them in a rapidly evolving market and fundraising landscape.

Embroker, the digital platform making it radically simple to get business insurance, today released an analysis showing that as startups raise more venture capital funding, coverage costs can increase by over 150%.

Embroker, the digital platform making it radically simple to get business insurance, today announced that it has surpassed an annual $100M premium run rate, a milestone that equates to more than 120% revenue growth year over year. The company also released other leadership milestones, including customer and employee growth, and expanded its executive team with a new CFO, Brian Acks.

In an era of increased business risk, small-medium enterprise (SME) owners and CEOs technology startup founders are falling short in both evaluating these risks and showing the right acumen for risk management, according to a new report released today by Embroker, a digital business insurance platform.

Embroker, the digital platform making it radically simple to get business insurance, today announced the availability of two new standalone digital insurance products: Cyber Insurance and Commercial Crime Insurance. Embroker insurance products, built digitally from the ground up, are designed for privately held small to medium sized businesses that are being underserved by legacy commercial insurance carriers.