Beazley

Simplifying the insurance experience for businesses using technology

InsurTech: Commercial Lines

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 London-based Superscript offers a digital insurance platform tailored for SMEs, landlords, digital asset businesses, and high-growth tech startups in the UK. The company claims to use proprietary machine-learning technology to underwrite its policies. The company's product lineup includes professional indemnity, cyber insurance, and product liability insurance. The company also offers an advised broking service called &ldquo;SuperscriptQ&rdquo; in the UK and across the European Economic Area, primarily targeted at tech businesses that face risks that the company defines as &ldquo;more complex in nature,&rdquo; such as medical malpractice or professional indemnity.&nbsp;
 
 
 In the digital asset space, Superscript launched Daylight in May 2022, a dedicated product suite combining cutting-edge machine learning and expertise from a team of digital asset insurance brokers. Daylight offers technology liability and cyber insurance and plans to expand into directors and officers (D&amp;O), custodianship, and mining covers.&nbsp;
 
 
 
 
 Key customers and partnerships&nbsp;
 
 
 As of January 2023, Superscript reported a 5x increase in its customer base since its Series A funding round. This customer base spans a range of industries and includes healthcare professionals, crafters, and IT contractors, among others. Its partnerships are as follows:&nbsp;
 
 
 In September 2021, Superscript partnered with Amazon to provide insurance to UK SMEs through Amazon&rsquo;s Business Prime program, offering coverages like contents insurance, cyber insurance, and professional indemnity insurance​.&nbsp;
 
 
 The company partnered with Virgin Money in July 2022 and Cashplus Bank in January 2022 to cater to their business banking segments.&nbsp;
 
 
 In October 2023, the company partnered with TSB, a UK-based high-street bank. Through this partnership, Superscript will provide access to insurance policies to TSB&rsquo;s small business banking customers.
 
 
 The company announced a partnership with Checkatrade in January 2024 to provide custom-built insurance for its members. 
 
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Superscript is a digital insurance broker for businesses big, little and bold. Superscript has built a self-serve online platform where small businesses can buy and manage their insurance in a matter of minutes. Meanwhile, as the first UK-based InsurTech to become a Lloyd’s of London broker, Superscript's tech-specialist brokerage team provides customised cover for high-growth, innovative companies with complex risks - all the way through from startups and scaleups to grown ups.

Capson is disrupting the medical malpractice insurance industry. The company's insurances focus not only on the policy but on the experience of physicians and their patients, enabling clients to avail medical insurance at a low premium and resolve claims faster. It was founded in 2010 and headquartered in Austin, Texas.

Beazley plc is the parent company of specialist insurance businesses with operations in Europe, the US, Canada, Latin America, Asia, the Middle East and Australia. Beazley manages six Lloyd’s syndicates and, in 2016, underwrote gross premiums worldwide of $2,195.6 million. All Lloyd’s syndicates are rated A by A.M. Best.   In the US, our underwriters focus on writing specialist insurance products in the admitted market, backed by Beazley Insurance Company, Inc., an admitted property/casualty carrier in all 50 states; and surplus lines risks, backed by the Beazley syndicates at Lloyd’s. Beazley Insurance Company, Inc. is rated A by A.M. Best.

<div> Beazley plc (LSE: BEZ) is a specialist insurance company headquartered in London, UK. Founded in 1986, Beazley has grown from a small Lloyd's of London syndicate into a global insurer with operations across Europe, North America, Latin America, and Asia. The company was listed on the London Stock Exchange in 2002 and is a constituent of the FTSE 250 Index. Beazley offers a wide range of specialty insurance products and services, including: <ul> <li> Cyber insurance </li> <li> Professional liability </li> <li> Management liability </li> <li> Environmental liability </li> <li> Property insurance </li> <li> Marine insurance </li> <li> Political risks and trade credit insurance </li> <li> Contingency insurance (event cancellation, etc.) </li> <li> Accident and health insurance </li> </ul> The company operates through multiple Lloyd's syndicates as well as its own insurance subsidiaries in key markets like the US and Europe. Beazley is known for its expertise in complex and emerging risks, particularly in areas like cyber security and reputational risk management. In 2023, Beazley reported record financial results, with pre-tax profits of USD 1.25 billion and gross written premiums of USD 5.6 billion. The company saw particularly strong growth in its property insurance business, which expanded by 64% to USD 1.4 billion in premiums. Beazley has also been a leader in developing new insurance products, such as launching the first-ever cyber catastrophe bond in January 2023 to expand capacity in the cyber insurance market. Looking ahead, Beazley expects continued growth opportunities from increasing demand for specialty insurance coverage in an evolving risk landscape. </div>

Beazley achieves US$4.6 billion in premiums, sustains high return on investments

The latest line of defense against rising cyber attacks

Cyber Insurance

Provides cyber insurance as a core product, often bundled with cybersecurity solutions and a team that assists in detection and response

Provides commercial property and casualty insurance products with cyber insurance as an additional product offering

Provides solutions for insurers/brokers to obtain an overview of security health and risk exposure for potential and existing clients

Provides solutions for insurers that use AI-based approaches and predictive models to quantify the financial impact of cyber risks

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Beazley, a specialty reinsurer, has launched two catastrophe bonds - PoleStar Re Ltd. (Series 2024-1), its first 144a cyber catastrophe bond, and a USD 100 million property cat bond. The cyber cat bond is expected to provide Beazley with at least USD 75 million in cyber reinsurance, with the Class A tranche notes attaching at USD 500 million in losses from a cyber event. The transaction is the first excess-of-loss catastrophe bond issued by Lloyd's ILS, using Lloyd's of London's UK insurance linked securities structure.Analyst QuickTake: This is the second ever full 144a cyber catastrophe bond, following AXIS’ USD 75 million bond <a href="https://sp-edge.com/updates/22925">debuted in October </a>. Beazley has previously secured USD 81.5 million in cyber catastrophe reinsurance in three privately placed deals.

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