Foxquilt Expands Digital Small Business Insurance Product Offering to New York

Foxquilt Expands Digital Small Business Insurance Product Offering to New York

The North American Insurtech launches their admitted Contractor, eCommerce, and Personal Services products to New York agents and small business owners.

NEW YORK, NY - November 19, 2024 - Today, Foxquilt, a leading North American digital MGA specializing in embedded insurance technology for small businesses, announced the launch of its proprietary digital insurance products in New York. Through Foxquilt’s platform, Foxden, small business owners in New York can now access tailored insurance solutions for Contractors, eCommerce, and Personal Services through a network of partner agents, wholesalers, and enterprises.

Foxquilt uses multi-operational rating and digital underwriting algorithms to provide custom-built insurance solutions for small business owners across the United States and Canada. With Foxquilt’s straight-through online process, business owners, and insurance agents can seamlessly quote, purchase, and receive policy documents in minutes.

According to a 2023 survey conducted by Big I NY, agents “report[ed] disruptions in the commercial market” with 87% of them finding “carriers limiting new business” and 100% noting “restrict[ed] coverage through exclusions or increased deductibles.” Amidst a challenging market where insurance capacity remains limited, New York is a milestone for Foxquilt in their mission to support small businesses and insurance professionals with tailored and affordable policies. The combination of Foxquilt’s sophisticated underwriting platform and end-to-end digital process has allowed them to enter the New York market with appetite confidence, eligibility, and profitability at its core.

What makes Foxquilt’s entry into New York particularly unique is their Contractor General Liability appetite as they accept interior contracting work in the five boroughs, a notably tight and difficult market. It’s understood that the business owners in this geography have been underserved, with many carriers retreating from the market. The combination of digital distribution, product offering, and expert underwriting at Foxquilt makes this expansion a natural next step to combat the insurance desert forming in New York.

“We are thrilled to bring Foxquilt’s innovative insurance solutions to the vibrant New York marketplace. This launch fills a major capacity gap in the state, providing small business owners with streamlined, accessible coverage tailored to their needs. We’re excited to work alongside our agency and enterprise partner network to empower New York businesses to thrive with confidence,” says Josh Reznick, Chief Distribution Officer at Foxquilt.

In a legacy landscape that lacks digital solutions, Foxquilt stands out as a modern service for business owners that leads to more wins for agents. The importance of efficient and affordable small business solutions is at the core of Foxquilt’s offering. Key features, such as built-in Blanket Additional Insured, direct billing, fee-free payment plans, no underwriting holds, and more, further champion insurance agents.

Foxquilt continues to expand their digital access throughout the United States, building their suite of embedded partners, and enhancing their agent platform to ensure small business owners and insurance professionals are supported - whenever, wherever they need insurance.

About Foxquilt

Foxquilt is a leading North American Insurance Technology company focused on providing small business insurance through a seamless, embedded distribution model. Foxquilt develops, underwrites, and distributes a complete line of its own commercial insurance products in the United States and Canada. The company uses a combination of data analytics and artificial intelligence to recommend the best insurance coverage and price to meet the individual needs of its small business customers through agents, brokers, and enterprise partners. For more information, visit https://www.foxquilt.com.

pr@foxquilt.com