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September 23, 2024
SAN FRANCISCO–(BUSINESS WIRE)–arqu, a tech-enabled wholesale insurance brokerage transforming how large-scale, complex commercial risks are transacted in the $100bn Excess & Surplus (E&S) market, announces its $10 million Series A financing, led by Crosslink Capital with participation from Intact Ventures. arqu also saw continued support from all existing investors, Lightspeed Venture Partners, Foxe Capital and Nationwide Ventures.
David Silverman, General Partner at Crosslink Capital, stated, “arqu is not just building a better wholesaler, it is redefining how wholesalers operate and create value by making data and technology central to its approach and maximizing the potential of its brokers.”
For too long, underwriters have shouldered the burden of risk assessment. arqu believes in arming its brokers with data and insights so they can thoroughly pre-underwrite risks, share the burden of risk discovery and deliver better outcomes for retail brokers and their clients.
The funding will be used to support expansion into new industry verticals and accelerate product development. arqu is scaling up its ability to tackle larger and more diversified risks, recently launching portfolio-level analytics for its teams. From national property portfolios to large-scale loss schedules, arqu’s broker teams can analyze complex risks with just a few clicks and place with greater insight and precision.
Chi Lee, Co-founder and CEO of arqu, said, “We empower our broker teams with technology to provide unparalleled service to our retail brokerage customers and be the best pre-underwriting partners for our capacity providers. With the E&S segment on track for its seventh consecutive year of double-digit growth, we see data-driven broking as the key to managing large-scale commercial risks in an increasingly challenging world.” Read rest here.