First Insurance & Risk Management Launches to Address Needs of Small Businesses

First Insurance & Risk Management (“First”), an insurance technology (Insurtech) platform and program administrator providing small business insurance with integrated risk management, today announced its launch. Designed specifically for small businesses, First is partnering exclusively with independent insurance agents and brokers to provide insurance protection and risk management resources to customers that have historically been under-served by large insurance companies.

In today’s volatile economic environment, small businesses require stability of coverage to operate with confidence. Independent insurance agents and brokers play a crucial role in advising small business customers on the coverage they need to grow their business securely. Recognizing the significance of this partnership, First is fully committed to an agent/broker distribution model. Leveraging cutting-edge technology and streamlined processes, First offers independent agents and brokers access to a simplified application and purchase process. Coverage can be purchased online within minutes, and policies are delivered instantly to the customer, ensuring a seamless and enjoyable experience.

Understanding that insurance coverage is only one piece of the puzzle, First goes beyond the traditional approach by offering integrated risk management resources to its policyholders. Upon issuing a new policy, insureds gain access to a personalized risk management dashboard tailored to their industry or classification.

Jonathan Hooven, Co-Founder and CEO of First Insurance & Risk Management commented: “We take great pride in our role as stewards of our shareholders and re/insurers’ capital, enabling the transfer of risk for our policyholders. Our core values, especially customer-centricity and innovation, reinforce to all stakeholders, both upstream and downstream, that we will proactively protect underwriting profit.

“Proactive protection of profit means – and this is unique to First, as well as transformational in what it means to be an insuretech – the entire value chain of capital has committed to viewing everything we do through the lens of our small business customers. As a professional risk management organization, we see our overarching objective as being a long-term risk transfer partner. We do this, of course, by providing loss prevention services and paying insurance claims fairly and on time, but also by generating consistent underwriting profit so that we remain a reliable partner to our customers.”