Project progressed from contract signing to go-live in just 45 days
MENLO PARK, Calif., March 05, 2024 (GLOBE NEWSWIRE) — Joshu, the platform to build, distribute, and grow digital insurance products, is pleased to announce that K2 OCONUS, a division of K2 Insurance Services (K2) and the first-ever Defense Base Act (DBA) managing general agency (MGA), has launched the company’s initial insurance program offering on the Joshu Platform in just 45 days.
K2 OCONUS was created to set a new standard for safeguarding those who serve our nation overseas by providing workers’ compensation coverage for U.S. government contractors abroad. This unique, highly complex, specialized line of business required a platform that was flexible, simple, and enabled K2 OCONUS to launch fast.
“Speed, flexibility, and robust functionality were imperative for our launch,” said Chris Leo, CEO and Founder of K2 OCONUS. “The entire process with Joshu was seamless and easy. Having the ability to utilize Joshu’s cloud-based, low-code, self-service platform gives K2 OCONUS the power to respond rapidly to changing real world conditions without the help of IT resources.”
“The unprecedented speed at which K2 OCONUS’ initial insurance program was brought to market highlights the agility and efficiency that Joshu brings to the table,” said Keith Moore, CTO of K2 Insurance Services. “This success is a blueprint for other K2 MGAs as they build, distribute, and grow insurance products quickly, which does not exist in legacy solutions.”
The scalability of the Joshu Platform makes it an ideal choice for MGAs across the spectrum. From new ventures to established operations, Joshu empowers insurance organizations to standardize systems while also streamlining operations and simplifying IT environments.
“Collaborating with K2 OCONUS and K2 to bring a unique product to market in six weeks with zero software development is exactly why we built the Joshu Platform,” said Roy Mill, CEO and co-founder of Joshu. “We are thrilled to partner with K2 on this project and to be chosen to power their future, innovative new programs.”
About K2 OCONUS
K2 OCONUS is a uniquely specialized Defense Base Act (DBA) insurance services company, writing Workers’ Compensation coverage for the U.S. government contractors abroad through Nationwide. Founded by a team with deep DBA insurance and military service experience, K2 OCONUS can better understand and address their clients’ needs, providing the highest level of service and care to their greatest asset- their employees, allowing them to return safely and in good health to their families and workforce. K2 OCONUS is a K2 Insurance Services brand.
About K2 Insurance Services
K2 Insurance Services is an insurance services holding company that owns and controls a diverse set of MGAs, marketing, underwriting and servicing over $1 billion annually in niche commercial and personal insurance premiums. Our mission is to protect what matters most to our partners and clients through personalized and specialty insurance products by distributing innovative programs and products through trusted direct, retail and wholesale channels. Formed and led by successful insurance industry veterans and backed by Warburg Pincus, K2 is leading the way with specialty insurance programs.
About Joshu
Joshu empowers insurers to launch online distribution channels quickly and independently. With Joshu, insurance professionals can set up their products and launch user-friendly portals, with less IT dependence. Founded by technology experts and insurance veterans, Joshu was designed to give insurance professionals the tools they need to harness digital distribution and go-to-market faster. Joshu is backed by top investors, Blumberg Capital, Engineering Capital, Correlation Ventures, Innovation Endeavors, Sure Ventures and DragonX Capital. Learn more at joshuins.com.
Media Contact:
Jennifer Overhulse
St. Nick Media Services
jen@stnickmedia.com
859-803-6597
