Ahoy! Insurance, an insurance technology company focused on offering marine coverage, has announced its entry into the Florida, US, market.
The insurtech company said the foray expands access to its marine insurance products to the “world’s largest boating community”.
Go deeper with GlobalData
Ahoy! is offering coverage for vessels of up to 95ft in length and $2.5m in value.
It provides a dual offering including government-backed insurance and excess and surplus (E&S) coverage for larger vessels or those outside traditional insurance limits.
In addition, the company has developed a platform designed to streamline the onboarding process, describing it as “built by boaters for boaters”.
It claims to offer a “simplified experience” by eliminating the need for multiple brokers, serving as a “one-stop shop” for coverage.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe company also emphasises proactive risk-reduction technology and streamlined policy management to help boaters spend more time on the water.
Ahoy! distribution and business development VP Bob Jones said: “Florida is the epicentre of recreational boating, and our entry into this market represents a significant milestone for Ahoy! Insurance.
“Our ease of quoting is refreshing and provides peace of mind and coverages tailored to the policyholder and agent’s needs and expectations.”
As an E&S broker, Ahoy! says it streamlines the process for agents by removing the need to seek alternative coverage when a carrier declines a policy.
An agency has improved its close ratio by 40% since November, with others experiencing comparable success, claimed the insurtech.
The expansion follows the launch of its US-wide yacht underwriting programme, designed to offer coverage for “larger vessels”.
The move also comes at a time when Florida’s boating industry is facing challenges, with traditional insurers raising premiums and scaling back coverage options, the company stated.
Ahoy! was founded in 2021 by naval veterans and insurance professionals Amit Nisenbaum, Kaenan Hertz and Shachar Segev.
It has offices in New York and Israel.
