JLT Re and Pact Insurance announce InsurTech partnership
17 December 2018
- JLT Re continues to build leading reputation in InsurTech sector
- Partnership will offer new product to the emerging digital auto insurance market
JLT Re (North America) Inc. (JLT Re), part of the global provider of reinsurance broking and consultancy, has partnered with Pact Insurance (Pact), a personal auto InsurTech company, to create a digital insurance solution to cover established and emerging mobility risks. Pact is instant and affordable auto insurance, providing fully digital product experiences that fit the lifestyle choices of consumers today.
“Consumer lifestyles are increasingly digital and dynamic, growing the divide between one size fits all coverage and consumer behavior. We’re pleased to be partnering with JLT Re in bringing to market a modern take on mobility risks. JLT Re continues to deliver tremendous end-to-end value to our program.” Said Paul Lee, CEO, Pact.
Ed Hochberg, CEO of JLT Re (North America) Inc. commented: “This partnership is a testament to the unique and highly specialized expertise of our InsurTech team led by Gregg Holtmeier and Jason Choi, as well as our Transportation team led by JJ Johnson.”
“We are excited to partner with Pact as they bring to market digital auto insurance solutions. In a space as mature as personal auto, programs must excel with data to compete. Pact has a level of data and underwriting granularity that is rare amongst new entrants. Pact takes data to another level in its plans to distribute to niches of underserved risks,” said Gregg Holtmeier, Executive Vice President and leader of the InsurTech practice for JLT Re.
JLT Re continues to build their leading reputation in InsurTech with this partnership.
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NOTES TO EDITORS:
About JLT Re
JLT Re is the world’s fourth largest reinsurance broker, with approximately 800 professionals across 38 locations in 18 countries, delivering world class risk analysis and risk transfer solutions.
Our deep specialist knowledge and extensive experience of both the reinsurance market and clients’ own industry sectors enables JLT Re to deliver innovative solutions tailored to meet client needs.
We provide clients with broking and consultancy services across all classes of treaty and facultative reinsurance, including aviation, marine & energy, terrorism & political risk, trade credit, life accident and health, cyber, workers compensation and structured products.
JLT Re has a proven capability to provide a range of advisory and capital markets services specifically to insurance industry clients on a global scale.
Our ground breaking proprietary modelling tools and market leading analytical capabilities and personnel enable us to bring analytical rigour and a unique perspective to clients.
JLT Re is part of the Jardine Lloyd Thompson Group plc. www.JLTRe.com @JLT_Re
About Pact Insurance
Pact is a new kind of car insurance. Pact is instant and affordable car insurance designed to cover traditional and modern mobility. By unifying consumer behavior with the power of instant coverage technology, Pact creates insurance that fits consumers’ lives, saving them time, money, and energy. Pact is headquartered in San Francisco and is available in Ohio with additional markets to follow. To learn more, visit www.pactinsurance.com and follow us on Twitter @PactInsurance.
About Jardine Lloyd Thompson
Jardine Lloyd Thompson is one of the world’s leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT’s client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.
JLT is quoted on the London Stock Exchange and owns offices in more than 40 territories with over 10,000 employees.
Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries. For further information about JLT, please visit our website www.jlt.com and follow us on LinkedIn at JLT Group and Twitter @JLTGroup.