Embroker

Embroker is a commercial insurer utilising new methods to provide their clients with affordable policies and coverage.

Embroker offer a range of business coverages, management liability and employee benefits. Their on-demand platform utilises predictive analytics and machine learning to simplify a business’ risk and policy management, and offer improvement suggestions to enable better protection.

In 2018, Embroker tripled revenue across is customer base of 2,500 companies. It also predicted it would double its revenue that year.

In regards to partnerships, in 2018, Embroker unveiled its D2C online Directors & Officers insurance for venture capital-backed startups, along with EPLI and fiduciary liability insurance, in partnership with Munich Re's Digital Partners. The following year, it would also launch their custom-made, fully-automated policies for Errors and Omissions and Cyber coverage.

In April 2019 Embroker revealed it had raised a $28m Series B, led by Tola Capital. The round also had participation from Canaan Partners, Manulife Capital Ventures, XL Innovate and more. CEO and founder Matt Miller stated the finance would be used to scale Embroker's platform.

The following year, in January, Embroker launched a new Lawyers' Professional Liability (LPL) platform for both large and small law practices, enabling law firms of almost any size to secure and enroll in legal malpractice insurance quickly and simply.

In March 2020 Embroker announced it had partnered with CNA to launch a highly customised Business Owners Policy cover. Through the partnership with CNA, Embroker provides small and medium-sized businesses across a broad set of industries with a simple and affordable way to apply for, get quotes and purchase the BOP coverage they need in a just few simple steps online.

Embroker launched a new platform, Embroker Access, which enables partner agencies to offer Embroker's instant quotes and 25% savings to their customers, including their recently expanded instant management liability package that covers all private companies.

Embroker now supports over 25,000 businesses.

In June 2021 Embroker revealed plans to expand into a full-stack insurtech after raising a $100m Series C round. Across all products, Embroker surpassed $20m in gross written premium for the first quarter of 2021 and achieved over 100% retention.

In September 2022 Embroker launched three new insurance products: for cannabis dispensaries, for venture capital firms and for key business leaders. The new products are all offered through industry collaborations. The first product for cannabis dispensaries will be launched in collaboration with a leading risk provider for the American cannabis industry.

In January 2023 it launched ONE by Embroker to simplify business insurance for Startup founders. It enables brokers and start-up founders to get quotes for a comprehensive bundle of products instantly.

During February 2023 Embroker launched New Law Bundle built on the new ONE by Embroker platform. The Law Bundle combines law practices liability insurance with cyber risk insurance to protect firms from the risks of running a business as well as the increasing threat of cyber-attacks.

In May 2023 Embroker released its digital Excess Tech Errors & Omissions (E&O) Product for brokers. The platform expands the number of policies brokers can write while decreasing the time needed to source excess coverage. The company states the solution will help to fill a gap in the wholesale market for digital Excess Tech E&O and Cyber policies. 

In July 2023 Embroker partnered with Dashlane, a password management provider, and Cowbell, a provider of cyber insurance for SMEs. Embroker wants to increase customer security through Dashlane’s cyber protection offering, and expand its cyber liability coverage by offering Cowbell Cyber insurance to existing and new customers. The company is attempting to expand its ecosystem of partners and services within its ONE by Embroker platform.