GRAND CAYMAN, Cayman Islands, Sept. 02, 2021 (GLOBE NEWSWIRE) -- Greenlight Re Innovations (“GRI”), part of Greenlight Capital Re, Ltd. (NASDAQ: GLRE) (“Greenlight Re” or the “Company”), has announced an investment in Shepherd Labs, Inc. (“Shepherd”), a construction insurance MGA focused on providing insurance options to middle-market contractors that devote resources to utilizing technology and data.
The construction industry has historically been a slow adopter of technology solutions. Shepherd is a technology-centric MGA that plans to leverage new construction technologies to optimize all components of the value chain. By integrating with construction management platforms, Shepherd has access to more underwriting data at a significantly faster speed than traditional, manual data collection methods.
Simon Burton, Chief Executive Officer at Greenlight Re, said, “Underwriting construction businesses has historically been a lengthy and inefficient process due to extensive data collection and entry requirements. We are excited to partner with Shepherd, as we believe they are able to provide enhanced underwriting data in a fraction of the time seen in the industry today.”
Justin Levine, Chief Executive Officer at Shepherd, said, “We’re entering a second wave of innovation in the construction industry and insurance is one of the most important frontiers for new ideas. We believe there is so much available data not being effectively leveraged in today’s underwriting, and...
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