Now Insurance receives funding from Arch Capital Group
Now Insurance Services, which distributes medical professional liability coverage, announced an investment from a subsidiary of Arch Capital Group and a managing general agent partnership with Arch Insurance North America.
Now Insurance will use proceeds from the capital raise for launching its new suite of medical malpractice products, scaling its platform, and expanding distribution networks. The agency will also introduce a new portal for brokers, enabling them to submit and bind medical malpractice coverage online for physicians.
Now Insurance was founded in 2019 and it is a team of ~15 according to LinkedIn data.
“I am very excited to further strengthen our partnership with Arch. As an innovative company and leader in the Insurtech space, they understand the potential of our platform and have shown their commitment in helping it succeed.” – Philip Cabaud, CEO of Now Insurance.
“Now Insurance’s innovative approach to the medical malpractice market aligns with Arch’s commitment to using analytics and AI to deliver an exceptional broker experience. We’re looking forward to bringing Now’s platform to our broker partners and working closely with NOW to further develop their analytics capabilities.” – Jay Rajendra, chief strategy and innovation officer for Arch Capital Group.