AmTrust Partners with mShifttech to Digitize Small Commercial Cyber Insurance

Millennial Shift Technologies (mShifttech) has entered a partnership with AmTrust Financial Services to distribute AmTrust's small commercial insurance products through the mShift Marketplace digital platform. The initial offering will be cyber insurance designed specifically for small businesses, allowing brokers and business owners to obtain quotes and bind policies rapidly through an automated, streamlined digital interface. This collaboration reflects mShifttech's commitment to modernizing insurance distribution, emphasizing efficiency and digital accessibility for brokers and small commercial clients. AmTrust Financial Services, a global specialty property and casualty insurer, has been actively expanding its cyber insurance team to address the increasing demand for cyber coverage among small businesses, which are considered vulnerable to cyber threats and data breaches. The partnership with mShifttech supports AmTrust's strategic aim to leverage digital channels for delivering essential cyber protection seamlessly. The mShift Marketplace employs automation and API integrations to reduce the quote and bind process times significantly, enhancing user experience for brokers and small business insurance buyers. This digital transformation aligns with broader industry trends emphasizing technology-driven improvements in specialty insurance products accessibility. This move also illustrates the growing importance of cyber insurance in the small commercial sector, where quick and efficient access to coverage is critical due to the rising cybersecurity risks faced by smaller enterprises. The partnership could signal further expansion opportunities for mShifttech's platform to include a wider range of small commercial products from AmTrust and potentially other carriers. Overall, this partnership highlights the ongoing shift toward digital innovation within the property and casualty insurance market, providing insights into how carriers and technology firms collaborate to meet evolving market needs and enhance distribution efficiencies.