Announcements

June 24, 2024, 08:00 AM Eastern Standard TimeFuturistic Underwriters is officially accepting submissions for their innovative general liability insurance solutions designed to reduce risk and protect against claims. DALLAS–Futuristic Underwriters LLC, a managing general agent (MGA) with a tech-enabled approach to insurance, announces today the public launch of its general liability division, dedicated to reducing risk and improving the insurance experience for general contracting, manufacturing/distributing, real estate, and hospitality among other industries. Futuristic Underwriters aims to assist both insurers and insureds in managing risk by leveraging the power of technology. They are now accepting submissions to quote and bind businesses across a wide variety of  target classes, including:  Contractors. Offering commercial, industrial, and residential (new construction & remodel/repair) for general and trade contractors.  Hospitality. Offering general liability, and assault and battery coverage for bars, hotels, motels, and restaurants. Learn more here.  Manufacturers/Distributors. Offering coverage for commercial & industrial equipment, electronics & electronic components, importers, plastics & rubber goods, and US manufacturers. Real Estate. Offering coverage for premises liability, apartments, condominiums, homeowners associations, and retail. “Year after year, we’ve seen insurers and brokers struggle to maintain profitability, evident in a property & casualty combined ratio of 103% in 2023,” said Michael Gramm, Futuristic Underwriters’ Senior Vice President. “We’ve successfully utilized technology and data analytics to enhance the insurance experience with our transportation solutions and look forward to extending this success to the general liability sector.’”  The Futuristic team is comprised of seasoned underwriters and a leadership team with an extensive technology background. This combined expertise has enabled Futuristic Underwriters to develop solutions that take a futuristic approach to address risk. Leveraging predictive data points, Futuristic Underwriters will help businesses obtain fair rates and coverage based on individual risk characteristics. In addition to this innovative underwriting strategy, their next-generation technology, including Artificial Intelligence, will help improve the overall insurance experience with an efficient distribution platform, proactive claims handling, and most importantly, tools to help insureds reduce risk.  For more information about general liability coverage through Futuristic Underwriters, click here. About Futuristic UnderwritersFuturistic Underwriters strives to deliver cutting-edge insurance solutions that reduce risk and improve the insurance experience for agents, insurers, policyholders, and claimants within the commercial property & casualty sector. The Futuristic team is comprised of seasoned underwriters and claims experts with specialty insurance experience alongside extensive insurtech expertise within the leadership team. Representing both affiliated and third-party insurance companies, Futuristic will continue to unveil a comprehensive range of specialized insurance products throughout 2024 and 2025. Stay up-to-date on Futuristic Underwriters’ latest products here.

January 16, 2024, 08:00 AM Eastern Standard Time Revolutionizing Transportation Coverage, Futuristic Underwriters Unveils Cutting-Edge Solutions for Commercial Auto Large Fleet Insurance. DALLAS–Futuristic Underwriters LLC, a managing general agent (MGA) with a tech-enabled approach to insurance, announces today the public launch of its transportation division, dedicated to reducing risk and improving the insurance experience for commercial fleets. For both fleets and insurers in the trucking industry, it has become increasingly challenging to maintain profitability as a result of the rising costs associated with accidents, litigation, nuclear verdicts among other factors. Over the past 12 years, the U.S. commercial auto insurance sector has consistently yielded a net combined ratio exceeding 100%, as a result of the rising risks in the industry. Futuristic Underwriters’ mission is to help insurers and insureds alike address these risks by leveraging the power of technology. Concurrently with this launch, Futuristic Underwriters is offering auto liability, auto physical damage, motor truck cargo, and general liability coverage. They are now accepting submissions and can quote and bind for large fleets using telematics systems.  “Securing competitive insurance rates for fleets while ensuring sustained profitability for insurers has been an ongoing challenge in the industry,” said Futuristic Underwriters’ Senior Vice President, Michael Gramm. “We see the sector turning to data analytics to enhance risk assessment and mitigation. At Futuristic, our overarching objective is to adopt a data-driven underwriting approach and leverage technology to enhance the overall insurance experience for all stakeholders.” The Futuristic team is comprised of seasoned underwriters with significant fleet transportation insurance experience and a leadership team with an extensive technology background. This combined expertise has enabled Futuristic Underwriters to develop solutions that take a  cutting-edge approach to addressing risk. Leveraging fleet telematics data alongside other predictive data points, Futuristic Underwriters will help safe fleets obtain fair rates based on their driver safety behavior. In addition to this innovative underwriting strategy, their next-generation technology, including Artificial Intelligence, will help improve the overall insurance experience with an efficient distribution platform, proactive claims handling, and most importantly, tools to improve driver safety.  About Futuristic UnderwritersFuturistic Underwriters strives to deliver cutting-edge insurance solutions that reduce risk and improve the insurance experience for agents, insurers, policyholders and claimants within the commercial property & casualty sector. The Futuristic team is comprised of seasoned underwriters and claims experts with specialty insurance experience alongside extensive insurtech expertise within the leadership team. Representing both affiliated and third-party insurance companies, Futuristic will continue to unveil a comprehensive range of specialized insurance products throughout 2023 and 2024. Stay up-to-date on Futuristic Underwriters’ latest products here.

November 03, 2023 08:00 AM Eastern Daylight TimeA new managing general agent (MGA), Futuristic Underwriters, opens its doors with a mission to reduce commercial property & casualty risk by leveraging the power of technology. DALLAS–Futuristic Underwriters LLC, a managing general agent (MGA) with a tech-enabled approach to commercial P&C insurance, announces today the public launch of its services dedicated to reducing risk and driving profitability for agents, insurers, and insureds alike. The commercial insurance landscape has faced many challenges including rising premiums, evolving regulatory requirements, inefficient processes, and increasing claims frequency. In 2022, the U.S. property & casualty sector ended the year with a net combined ratio of 102.4 with resulting underwriting losses for the industry. With figures and challenges such as these, it is clear the traditional approach to insurance has left insurers, brokers, and policyholders unsatisfied and unprofitable. Futuristic Underwriters strives to deliver cutting-edge solutions to combat these adverse trends in the following industries: Contractors, manufacturers/distributors, real estate, professional service organizations, auto, and other P&C lines. These solutions will not just start and end withdata-driven underwriting but include next-generation technology including Artificial Intelligence, to improve the overall insurance experience with an efficient distribution platform, proactive claims handling, and most importantly, tools to reduce risk “ “In this era of growing complexity and evolving risk landscapes, where underwriting losses are reaching an unprecedented high, it becomes increasingly essential to reevaluate traditional underwriting practices,” said Yogesh Kumar, CEO and President of Futuristic Underwriters. “Our mission is to confront these industry challenges head-on with a transformative, technology and data-driven approach to underwriting that not only mitigates risk but reimagines the underwriting process. We aim to herald a new era of resilience and success for our clients across diverse industries and lines of business.” About Futuristic Underwriters Futuristic Underwriters strives to deliver cutting-edge insurance solutions that reduce risk and improve the insurance experience for agents, insurers, policyholders and claimants within the commercial property & casualty sector. The Futuristic team is comprised of seasoned underwriters and claims experts with specialty insurance experience alongside extensive insurtech expertise within the leadership team. Representing both affiliated and third-party insurance companies, Futuristic will continue to unveil a comprehensive range of specialized insurance products throughout 2023 and 2024. Stay up-to-date on Futuristic Underwriters’ latest products here.