The team behind the first tier-one minority-led insurance and reinsurance broker in the US has said the company has been launched in response to the market’s demand for greater choice.
Philadelphia-based, Protecdiv is a specialty US Property and Casualty (P&C) which it said has set itself an ambitious but realistic growth plan to reach $100 million in revenue in five years.
The firm revealed it will target Fortune 2000 clients, with an initial focus on auto manufacturers and suppliers and Financial Institutions. “Protecdiv will work with these large publicly-traded and privately-held companies as well as government and government-related entities to provide specialty insurance solutions,” it explained.
In the reinsurance sector, Protecdiv will focus on providing innovative risk transfer solutions to large and specialty insurers. In the mortgage markets, the broker will deliver credit risk transfer services to U.S. government-sponsored enterprises, mortgage insurers, banks and other asset holders.
In a statement the firm said: “There is currently a drive in the US by larger enterprises to have greater diversity among their supplier base. Protecdiv’s business model addresses this demand by creating a diverse company that can deliver top tier insurance and reinsurance services.”
“We will be the only minority-owned insurance broker that will universally qualify as a tier one broker for Fortune 2000 companies,” said Kael Coleman (pic), Founder and Chief Executive Officer of Protecdiv. “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.”