Flow Specialty Launches from Capitola Rebrand and Leadership Change

David Derigiotis President of Brokerage and Head of Insurance and the firm has introduced new AI-driven capabilities aimed at providing unmatched service and access to premier markets.

(Image source: Flow Specialty homepage.)

Flow Specialty, the rebranded entity of the former Capitola Insurance, has launched with the stated intention of setting a new standard in the specialty wholesale insurance market. The wholesale brokerage has appointed David Derigiotis President of Brokerage and Head of Insurance and has introduced new capabilities. Through the use of advanced AI, Flow Specialty says it offers faster quotes, transparent communication, and reduced costs, providing unmatched service and access to premier markets.

Sivan Iram, CEO, Flow Specialty.

Flow Specialty founded in 2021 by Naor Rosenberg (CTO), Amit Ben Nathan (CPO), and Sivan Iram (CEO) in Mountain View, California. Backed by Munich Re Ventures and Lightspeed Venture Partners. The company advertises itself as blending human expertise with cutting-edge AI technology to deliver access to top markets, unmatched service, and unbeatable value.

Flow Specialty touts new offerings suitable for a changing industry. It says that it is tailoring its solutions to meet the unique needs of retail agents and carriers with a focus on the following, by Flow’s description:

Professional Liability Insurance: Broad access across various markets catering to companies with challenging renewal scenarios, legal complexities, or unique operational traits.

Management Liability Insurance: Comprehensive coverage for directors and officers (D&O), encompassing hard-to-place risks including but not limited to industries like cryptocurrency, cannabis, California EPL, etc.

Cyber Insurance: covering privacy, data, and network security exposures for companies ranging from startups to multinational public companies.

“Our vision is clear: to transform the wholesale brokerage experience,” comments Sivan Iram, CEO, Flow. “By harnessing AI alongside our deep specialty insurance knowledge, we aim to significantly enhance the speed and quality of service, setting new standards in the insurance sector.”

Flow Specialty’s announcement of its rebrand says that retail agents can now enjoy simplified access to top markets and personalized service through a single contact point, eliminating traditional complexities and enhancing efficiency. The brokerage says that carriers benefit from tailored deal flow, higher engagement rates, and optimized distribution channels.

The improvements introduce by Flow Specialty aim to address the inefficiencies faced by gents today, including dealing with unresponsive brokers, or being forced to endlessly enter insured information on carrier portals. Flow says it combines the ease of using email communication with the benefit of expedient quotes by automatically extracting insured information from emails and attachments, choosing the best markets to target and placing it via API, Portals and traditional emails with underwriter teams.

Flow says that its ability to digitize risk appetite ensures that carriers working with Flow see curated deal flow, higher quote and bind ratios, new and better distribution, and optimized submission channels.

“The world needs a wholesale brokerage experience that challenges conventional norms and balances insurance industry needs with evolving times,” adds Sivan Iram. “There is an opportunity to build a better wholesaler, and that is exactly what we have done with Flow. We’ve heard the industry’s issues with responsiveness, lack of transparency, and increasing costs, and we have solved that through innovation, new workflows, and stronger systems to change the insurance wholesale business forever.”

David Derigiotis Joins as President of Brokerage

David Derigiotis, President of Brokerage and Head of Insurance, Flow Specialty.

Accompanying the strategic rebrand, Flow has appointed David Derigiotis as its new President of Brokerage and Head of Insurance. Derigiotis brings more than 20 years of specialty insurance industry experience from Embroker, Burns & Wilcox, Argo Group, and Markel.

Derigiotis has been featured in major national news publications, has delivered a TEDx talk on AI, has multiple designations from the International Association of Privacy Professionals (IAPP), is an author, and regularly speaks on national stages on emerging technologies, complex cyber security exposures, data privacy law, and regulatory requirements.

“Joining Flow marks an exciting new chapter in my career journey, one that will give me the opportunity to help reshape the levels of service expected in specialty insurance and pioneer new pathways,” comments Derigiotis. “Moving forward, my vision is clear: to provide the most responsive, intuitive, and expertise driven solutions to help our agent and carrier partners grow.”

Derigiotis is responsible for overseeing the strategic direction for the next-gen specialty wholesale insurance brokerage, and will focus on building deep relationships within the insurance community with agents, carriers, and other key stakeholders, according to the Flow statement.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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