ProSight Specialty® Insurance Announces Sixth Consecutive Year of Profit and Growth for Media and Entertainment Insurance Program
ProSight Specialty® Insurance announced today the sixth consecutive year of growth and profit for its Media and Entertainment program.
A leading provider of niche insurance offerings, ProSight offers tailored solutions for the film, touring, sports and live event industries and has become one of the most sought-after insurance carriers in the media and entertainment industry.
“We’re proud to have cemented our place as one of the biggest and most reliable providers of media and entertainment insurance, covering projects around the globe. ProSight continues to innovate solutions that best serve the nuances and unique needs of the media and entertainment industry,” said Kevin Topper, niche president at ProSight Specialty Insurance. “Each day, we utilize a combined 300 years of underwriting experience to create insurance that has impacted the marketplace and we take pride in delivering seamless and unparalleled support.”
ProSight’s investments in technology and commitment to efficient processes have been instrumental to their continued success. As ProSight’s market share grows, its Media and Entertainment team continues to expand to provide unmatched programs and support as evidenced by its current operational efficiency.
- 96 percent of renewals are quoted 21 or more days ahead of expiration date
- 85 percent of all renewal accounts are retained
- 85 percent of new business quoted within 5 days
- 50 percent of new business quotes turn into policies
- 20-day average turnaround for policy issuance
“I’ve been in this business for more than 25 years and I’ve never witnessed a program accelerate so quickly. ProSight’s evolution from startup business to industry leader is truly remarkable,” said Joe Finnegan, customer group president at ProSight Specialty Insurance. “Our immense growth, profit, differentiated offerings and stellar retention rates prove that we’re positioned to dominate the media insurance industry now and in the future.”
In 2017, ProSight continued to be recognized as an innovator in insurance, winning awards for Best New Service by the Best in Biz Awards and for Business-to-Business Service by the American Business Awards. Both were given for ProSight’s original endorsement called Music Mends. The coverage is triggered when a musical artist’s concert is impacted by a terrorist attack and the artist wants to use music to bring healing to the affected community—a situation that has become far too common.
About ProSight Specialty Insurance
ProSight Specialty Insurance is an innovative property and casualty insurance company that designs solutions to help customers solve their business problems. Each solution is targeted to enhance customers’ operating performance. ProSight focuses on select niche industries, deploying differentiated underwriting and claims expertise, and then works exclusively with specialized distributors to deliver value. ProSight is fueled by a cultural desire to succeed at uncommon challenges, making the business performance of its customers a top priority. The underwriting members of the ProSight Specialty Insurance (ProSight) group of companies are rated “A-” (Excellent) by A.M. Best. Based in Morristown, NJ, ProSight has regional offices in Los Angeles, CA, Petaluma, CA, Alpharetta, Georgia and New York, NY.