(Image credit: Jill Wellington/Pixabay.)
Ascend, a New York-based provider of an insurance payments platform, and Stere (New York), a digital ecosystem designed to tackle speed-to-market, capacity sourcing, and other challenges faced by MGAs and insurance carriers with regard to capacity conversation, have announced a partnership to provide brokers, MGAs and carriers with digital experiences.
Ascend describes itself as is the first modern insurance payments platform that provides automated all-in-one financing, collections, and payables. Stere pitches itself as a one-stop-shop for businesses to find capacity and access digital tools to launch, improve and grow insurance programs. Both companies work to digitize key aspects of the insurance value chain and will be combining forces in a first-of-its-kind anchor partnership to aimed at fueling their customers’ growth.
“We’re incredibly excited to be collaborating with Stere as we enter the next phase of providing the best possible product/service for our customers,” says Andrew Wynn, Co-Founder & Co-CEO, Ascend. “They’ve built an incredible ecosystem that connects ‘capacity seekers’ such as MGAs, InsurTechs, or embedded insurance partners, with ‘capacity providers,’ like carriers and reinsurers. Stere’s capacity marketplace will support our customers’ capacity needs and becoming a part of that ecosystem, benefits both ours and their customers.”
“Working with Ascend further expands and strengthens the roster of network vendor partners our clients have easy access to via our digital ecosystem,” says Dogan Kaleli, CEO and Founder, Stere. “Our mission is to be a go-to capacity marketplace for MGAs, reinsurers, and carriers as well as offer them a secure platform where they can launch and grow insurance programs with ease. By restructuring and modernizing insurance payments infrastructure, something that is long overdue, Ascend addresses a long-standing industry pain point and empowers our clients to increase their process efficiencies.”
Ascend reports that the partnership with Stere is the first of many the company will be investing in to deepen its relationships with other InsurTechs, MGAs, AMS, and other embedded insurance carriers.