Joyn Insurance, a New York-based insurtech company, received an investment from insurance and reinsurance company SiriusPoint Ltd.
The amount of the deal was not disclosed.
SiriusPoint will be a founding investor in the venture, providing insurance capacity and will also assist in the strategic direction of Joyn. The businesses will work together to transform small and mid-market US commercial insurance through digital technology, data analytics, and automation.
Led by founder and CEO Seraina Macia, Joyn Insurance Services Inc. is a newly formed Delaware-domiciled, licensed producer and general agent and insurtech enterprise that will be underwriting commercial insurance in the small and middle markets. It operates under its “Joyn”SM and “Joyn Insurance”SM brands.
Initially operating as a Managing General Agency, Joyn will be focused on the underserved needs of businesses looking for risk transfer solutions in the $100B U.S. SME market. the company will deliver a commercial insurance experience and underwrite Excess and Surplus (“E&S”) products in six industry verticals.
SiriusPoint is a top 20 global re/insurer which launched earlier this year with more than $3bn in capital.
FinSMEs
07/07/202