(Image credit: IIR.)
Corgi Insurance (San Francisco) has launched Corgi Re, a reinsurance platform designed to modernize underwriting, risk assessment and operational workflows in the reinsurance market.
The launch expands Corgi’s role in the insurance ecosystem from providing insurance directly to companies to supporting insurers with capacity and risk management solutions, according to a Corgi statement
Jeremy Eisemann, Head of Government Affairs and Deputy General Counsel, Corgi Insurance.
Corgi describes itself as an AI-native, full-stack insurance carrier. The company says Corgi Re will combine underwriting technology and a lean operating model with reinsurance-market expertise and relationships.
“Reinsurance is one of the hardest markets to enter for a reason,” comments Jeremy Eisemann, Head of Government Affairs and Deputy General Counsel, Corgi Insurance. “Carriers are handing you part of their risk, and those relationships are typically built over decades, not overnight.”
Eisemann says technology can make reinsurance faster and more efficient but does not replace the trust on which the market depends.
Corgi says reinsurance continues to rely heavily on longstanding relationships, manual processes, spreadsheets and lengthy underwriting cycles. Corgi Re is intended to provide insurers and reinsurers with better tools, data and workflows for evaluating risk and deploying capital.
“There is an enormous opportunity to modernize the way reinsurance is underwritten without losing what makes the market work,” Eisemann comments. “The goal isn’t to take the relationships out of reinsurance. It’s to give the people on both sides better tools, better data and a faster way to make informed decisions.”
Moving Upstream
Corgi initially built its business around providing insurance directly to modern companies, including startups and technology businesses. With Corgi Re, the company is moving upstream into reinsurance, where primary insurers transfer portions of their risk to reinsurers to support capital, capacity and claims-paying ability.
Corgi says Corgi Re will operate within the company’s broader regulated insurance infrastructure, with an emphasis on regulatory compliance, underwriting discipline and responsible risk management.
Corgi Insurance provides AI-enabled insurance and financial infrastructure. The company says it has raised more than $378 million and has offices in New York, London, Atlanta, Salt Lake City, Dallas and Chicago, in addition to its San Francisco headquarters.