The companies said in the announcement that insurance collaborations can bring about “dynamic solutions” that evolve with real-time and changing needs.
Thimble Founder and CEO Jay Bregman said in the announcement, “Hiscox was the first insurance company in the U.S. to offer small business insurance direct and online, and they continue to have their finger on the pulse of what small businesses want — which now more than ever is flexibility. It doesn't matter if you're a freelancer working job-to-job, or an established small business that needs a month-to-month solution — Thimble has insurance to help you succeed at your own pace, on your own terms.”
The collaboration lets Hiscox provide companies with the ability to make modifications through a policy that evolves and expands along with them. The insurance app of Thimble will provide clients with complete control over their policy by letting them change their coverage due to the requirements of a project, halt coverage if needed or append more insureds.
Hiscox Executive Vice President of Small Business Insurance of the U.S. Kevin Kerridge said in the announcement, "Through this partnership, we can now offer small businesses a flexible solution through Thimble that can quickly adapt to the changing needs of their business."
In separate news, Huckleberry, an insurance purchasing and management company, notched $18 million in Tribe Capital-led Series A funding, with participation from Crosslink Capital, Uncork Capital and Amaranthine, per news in December.
The funds were to be used to grow Huckleberry’s insurance offerings throughout industries such as auto repair, personal care, eateries and more as well as grow data science, engineering and marketing initiatives.
The company provides an online insurance platform for small- to medium-sized businesses (SMBs) that is completely without paper.