SageSure Insurance Managers is teaming up with Independent Mutual Fire Insurance Company (IMF) to launch a new homeowners’ product in the state of Texas, designed specifically to suit the needs of coastal property owners. Through the partnership, SageSure will develop the products, deliver them to the market and service the policies with its in-house team, while IMF will handle the claims.
“This partnership represents our commitment to bringing more options from dependable carriers to homeowners in underserved markets,” said SageSure co-founder and CEO Terry McLean. “In addition to being an A.M. Best A- rated carrier, IMF also has a longstanding tradition of claims excellence, which we believe will serve Texas homeowners well.”
SageSure partners with “highly rated insurance carriers” to provide residential property coverage to “underserved” coastal markets, a release said. The managing general underwriter sells products via a distribution network of agents and brokers in 14 coastal states.
“SageSure’s actuarial and underwriting expertise paired with IMF’s exceptional claims servicing will offer a great experience for our producers and policyholders,” added IMF president and CEO Ed Konar. “We look forward to serving the needs of Texas homeowners and expanding on that in the future.”
A release said that while the new product is currently offered only in Texas, there are plans to expand to additional coastal states where SageSure operates.