R&Q partners with flat-priced insurance provider aimed at urban professionals

A Florida-based subsidiary of Randall & Quilter Investment Holdings, Accredited Surety & Casualty Company, has entered into a new programme partnership with Surround Insurance Agency.

Surround was co-founded in 2018 by Jonathon Jay Grayson and Kate Terry and offers a starter pack of insurance coverages for urban professionals, with products including renters, non-owned auto and professional liability. Policies are flat priced in one combined package to make insurance simple and accessible for asset-lite consumers who rent, share, and freelance.

The deal makes Accredited, which is licensed in all 50 states to write admitted business, the issuing carrier for Surround. The programme initially launched in Massachusetts, where Surround is based, but is set to expand into Illinois and other states.

Todd Campbell, president and chief executive of Accredited, highlighted Surround’s customer focus and insurer tech platform as exciting developments in the industry. “Accredited has a growing pipeline of new partnerships to be launched before the year end and we are excited to be delivering on our mission to be the programme underwriter of choice for US MGAs, MGUs, programme owners and their capital partners,” he said.

Grayson, Surround's chief executive, said the advent of the smartphone has changed the world dramatically, necessitating a new approach to insurance. “Consumers in their 20s and 30s enjoy amazing choice and freedom across the ways they live, work, and move in the modern economy,” he explained. “They’re also experiencing a widening gap in risk exposure because of their new lifestyles.”

Alan Quilter, R&Q Group chief executive, said: ‘’This partnership is further evidence of our commitment to supporting high quality programme business, with superior MGAs, across the US and highlights the important role that Accredited plays in this arena.”