Legal: Attune Insurance Services, LLC.
Location: New York City, New York
INDUSTRY – Insurance
Size: $4.8B (2017) (Source: “Insurance Global Industry Guide 2017”)
Projections: $6.1B by 2020
Attune is an insurance platform serving small to medium-sized enterprises using AI and data-driven analytics. Essentially, Attune seeks to streamline the traditional underwriting process through automation, eliminating redundancies that are both costly and inefficient to the small business owner. While insurance estimates usually take days, weeks or even months, Attune claims to have reduced this to a matter of minutes, creating risk submissions that are almost instantaneous. Attune is the child-company of two insurance organizations and one tech company: the American International Group (AIG), Hamilton Insurance Group, and Two Sigma. Attune partners with a number of retail and insurance brokers in order to deliver a range of products.
As a B2B product, Attune offers a mobile app made for business owners as well as brokers and agents. This app, however, is not offered to customers but is simply created for those who are already working within the Attune community. Agents use this app in order to take a limited amount of information offered by the customer such as company name and address and immediately turn that into a biddable quote. As of 2016, the app was being used by 25 retail agencies within seven different states, formerly branded as MyHamilton Express and afterwards converted into ‘Attune.’ Using the app, policies are created in mere minutes, and can be quoted to a customer almost instantaneously as a result.
As the child company of the American International Group (AIG) and Hamilton Insurance Group, Attune offers a number of insurance products. These include business owners’ policies, commercial liability excess, cyber breakdown, non-owned auto, liquor liability and a number of other factors. In addition, Attune boasts a strong workers’ compensation,available in 43 states.
The company is currently in the midst of building infrastructure and personnel, and has been rolled out in 25 retail agencies and seven states as of 2016.
Origin and Founding Team
Attune was founded in 2016 as the child company of three companies: global insurance provider American International Group (AIG), Hamilton Insurance Group and Two Sigma. AIG is a hundred-year-old global insurance organization that has historically offered a wide range of insurance products such as life insurance, retirement, mortgage as well as management risk assets.Hamilton Insurance Group is a Bermuda-based holding company which focuses on underwriting and investment, while Two Sigma is a tech company utilizing world data in order to create investment management and insurance strategies. The company wields around $37B in assets, with offices in New York, Hong Kong, Houston and London. The three companies launched Attune as a way of driving their respective enterprises into the digital age.
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