Propeller Inc. Partners with Amwins for Surety Bond Distribution

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Apr 05, 2022, 10:19 ET

Propeller automates bond underwriting, simplifying how retail agents purchase surety bonds

PHILADELPHIA, April 5, 2022 /PRNewswire/ -- Propeller, Inc., a high-growth insurtech MGA specializing in surety bonds, has signed an agreement with Amwins, the largest specialty insurance distributor in the U.S., to serve as a preferred surety partner to their network of over 25,000 retail agencies.

Joe Perschy, the Chief Executive Officer at Propeller, stated, "Amwins and Propeller are a natural fit. Amwins is a premier distribution partner, while Propeller is the most forward-thinking surety solution empowering retail agents to extend services to their clients. This solution truly provides retailers a bolt-on surety department overnight, equipping them with surety technology, market access, and expertise."

The partnership focuses on delivering Propeller's proprietary, white-labeled (URL) technology to agents and brokers, allowing the surety bond process to become fully automated from application to billing and issuance. Propeller onboards agents in minutes for free, with no premium requirements. Amwins retail agents can expect to write transactional surety bonds instantly with no friction and leverage the Propeller markets and team to place more complex risks.

"We are thrilled to partner with Propeller and bring this automated end-to-end underwriting platform for surety bonds to our retail clients," said Tom Parsons, head of digital at Amwins. "Our continued focus is creating the best placement experiences for our clients and Propeller's leading technology and product expertise provides this best experience within the surety market."

Aaron Steffey, Propeller's Co-Founder and Chief Growth Officer, quoted, "I met Amwins almost exactly one year ago during our participation in the Brokertech Ventures Accelerator. The immediate synergies were obvious, and we knew this could be an incredible partnership as we continue to transform the way surety is viewed, distributed and underwritten. We are excited for this next chapter."

The Amwins and Propeller Bonds rollout will commence immediately with continued efforts throughout the year.

About Propeller, Inc.

Propeller Inc. is an insurtech MGA/MGU equipped with a proprietary instant issue surety bond platform. The platform currently houses more than 6,000 instant issue surety bonds, with thousands more to be added by the end of 2022. Propeller private labels the platform for agencies, allowing agents to either purchase bonds for clients or by empowering clients to self-service. Agents are compensated for all purchases via their unique site link. The company partners with highly respected "A" rated carriers. Click here to book a demo today.

About Amwins

Amwins is the largest independent wholesale distributor of specialty insurance products in the United States, dedicated to serving retail insurance agents by providing property and casualty products, specialty group benefit products, and administrative services. Based in Charlotte, N.C., the company operates through more than 155 offices globally and handles premium placements in excess of $26 billion annually.

Media Contact:
Jamie Bercik
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SOURCE Propeller, Inc.