Protecdiv, a new insurance and reinsurance broker, has launched in the US.
Based in Philadelphia, Protecdiv is a specialty US P&C brokerage that puts process, technology, and diversity at the very center of its business model, a release said. Billed as a “minority-led” brokerage, Protecdiv is fronted by CEO Kael Coleman and COO Paul Little.
Coleman previously led the global mortgage reinsurance team of Willis Re. Prior to that, he was a senior broker at Guy Carpenter and at Holborn, where he met and worked closely with Little.
Little, meanwhile, founded Maxfield Risk Consulting, where he also served as president of the risk management and analytics consulting company. Before founding Maxfield, Little was CEO at Ultimate Risk Solutions and also served as president of EQECAT and as a managing director with Guy Carpenter.
A company release said that Protecdiv has plans to reach $100 million in revenue within the next five years. The firm also said that it aims to expand its employee base to have the most diverse workforce in the industry.
Protecdiv will focus on serving Fortune 2000 clients, particularly those involved in auto manufacturing and supply, as well as financial institutions. The broker will also serve government and government-related agencies with its specialty insurance.
In terms of reinsurance, the brokerage will provide risk transfer solutions to large and specialty insurers, while offering credit risk transfer services in the mortgage markets.
“We have created the first minority-owned insurance and reinsurance brokerage with a focus on innovation, data, and technology - all geared towards providing flawless execution and a laser-like focus on customer service. American industry is evolving to encourage greater diversity and Protecdiv is here to meet this need,” said Protecdiv founder and CEO Kael Coleman.
