Plover Parametrics unveils specialty brokerage
Plover, the tech-enabled commercial insurance broker, has launched a new specialty brokerage designed to help brokers secure climate and emerging risk solutions.
The company, which was founded in 2022, has also secured over $5 million in venture capital funding that is to be used to expand its brokerage team, invest in the software automation of Plover’s broking process, and support Plover’s growing program business.
Max Clarke, Chief Executive Officer and Co-founder of Plover, commented, “The insurance industry is at a crossroads. The increasing severity of climate events, permissive building practices, and regulatory challenges have broken the insurance markets in much of the US.
“Mass admitted non-renewals in flood, storm and fire-prone areas are now common. When admitted markets pull back, E&S products need to be readily available to fill these gaps. We founded Plover to grow the market for specialty insurance that can keep American companies protected and open for business.”
Brendan Beeg has been appointed to lead its specialty brokerage as Senior Vice President of Brokering. Beeg has a decade of industry experience with a track record in the parametric risk space.
Beeg commented, “I am excited to lead the specialty broking operation during this exciting phase of innovation and demand.
“We will set new standards for service excellence and equip our broker/carrier partners with the objective information they need to execute quickly and deliver exceptional results. Broker partners can expect to see higher client retention rates, new revenue production, RFP success, and reduced service expenses through the outsourcing of challenging property renewals to the subject matter experts at Plover.”
