Bishop Street Underwriters Launches MGA Incubator

Bishop Street Underwriters announced the rollout of Bishop Street Program Managers (BSPM), an incubator for the development of general agents (MGAs).

Embedded within Bishop Street’s ecosystem and supported by its $600 million gross written premium platform, BSPM has committed to leveraging the infrastructure, back office capabilities, capital capacity and insurance relationships within 90 days as well as leapfrogging the issuance of exclusive MGAs.

As part of BSPM, a Redbird Capital Partners portfolio company, underwriters will be able to take advantage of Bishop Street’s shared services model across compliance, technology, distribution and data analytics, with support from an embedded AIN-enhanced underwriting workbench. BSPMAA offers turnkey system setup that is customized for specific niches.

To support the rollout of BSPM, Bishop Street has also announced executive leadership hires for BSPM:

• BSPM President Luke Porter – A career underwriter and industry veteran with particular experience in implementing and managing de novo programs and insurtech platforms, Porter will lead Bishop Street’s MGA Incubator. He joins from Mission Underwriters, where he managed program rollout and expansion efforts across the firm’s portfolio.
• Chief Strategy Officer, CPCU, Andrew Shrevet – has decades of experience in strategic marketing, organizational change and operational sustainability to drive BSPM’s long-term growth strategy.

Following the launch of BSPM, Dan Litinsky has been added to the Bishop Street team as Chief Risk Officer. In this role, Litinsky is responsible for advancing Bishop Street’s capabilities in underwriting, profitability, actuarial and pricing disciplines and overall portfolio formation and strategy. He is a Fellow of the Accident Actuarial Society and joins from Ossidian Insurance Holdings, where he oversaw cost and profitability monitoring across the company’s program portfolio.

Chicago-based Bishop Street says its expanded leadership team will build on the acquisitions of Avid Insurance, Aerospace Insurance Managers, Landmark Underwriting, Ethos Specialty’s transactional liability unit, Confer Insurance Services and Varvi Services.

Redbird Capital Partners is a private investment firm that currently manages $12 billion in assets.

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Insurtech Underwriting Insurance Wholesale