As America's small businesses navigate the reopening economy, innovative insurance partnerships can offer dynamic solutions that adapt to real-time, evolving needs
NEW YORK, June 16, 2020 /PRNewswire/ -- Hiscox, a leading small business insurer, has partnered with Thimble, the insurance partner that makes insurance simple to help small businesses succeed on their own terms by offering short-term liability insurance, available by the hour, day or month.
Today, more than ever, small businesses need to know they have an alternative to annual insurance commitments. This partnership will allow Hiscox to give businesses true flexibility with a policy that grows and adapts as they do. Customers will have full control of their policy via Thimble's breakthrough insurance app, with the ability to modify their coverage based on a project's needs, add additional insureds or even pause coverage as necessary.
"Hiscox was the first insurance company in the US to offer small business insurance direct and online, and they continue to have their finger on the pulse of what small businesses want – which now more than ever is flexibility," said Jay Bregman, CEO and Founder of Thimble. "It doesn't matter if you're a freelancer working job-to-job, or an established small business that needs a month-to-month solution – Thimble has insurance to help you succeed at your own pace, on your own terms. We're incredibly excited to be working with Hiscox to provide small businesses a simple option, especially during these challenging times."
"We are committed to providing innovative solutions to small businesses," said Kevin Kerridge, Executive Vice President of Small Business Insurance for Hiscox in the US. "Through this partnership, we can now offer small businesses a flexible solution through Thimble that can quickly adapt to the changing needs of their business."
The two companies are planning further integrations for later this year.
Thimble's mission is to make insurance simple, to help businesses succeed on their own terms. Thimble business insurance policies can be purchased on-demand in less than a minute, in rolling monthly increments, by-the-day, or for as little as one hour. Service providers can add workers, extend coverage, pause or cancel policies directly via the Thimble mobile app.
Founded in 2016 by Jay Bregman and Eugene Hertz, Thimble has sold over 100,000 policies to small businesses all across America via its award-winning app, partner APIs, and broker tools. Thimble is based in New York City and has raised over $29 million in funding from investors including IAC (NASDAQ: IAC). All Commercial General Liability and Professional Liability policies are underwritten by Markel Insurance Company (NYSE: MKL). For more information, download the Thimble app or visit thimble.com.
About The Hiscox Group
Hiscox is a global specialist insurer, headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). Our ambition is to be a respected specialist insurer with a diverse portfolio by product and geography. We believe that building balance between catastrophe-exposed business and less volatile local specialty business gives us opportunities for profitable growth throughout the insurance cycle.
The Hiscox Group employs over 3,100 people in 14 countries, and has customers worldwide. Through the retail businesses in the UK, Europe, Asia and the USA, we offer a range of specialist insurance for professionals and business customers as well as homeowners. Internationally traded, bigger ticket business and reinsurance is underwritten through Hiscox London Market and Hiscox Re & ILS.
Our values define our business, with a focus on people, courage, ownership and integrity. We pride ourselves on being true to our word and our award-winning claims service is testament to that. For more information, visit www.hiscoxgroup.com.
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