NEWITY, America’s Small Business Marketplace, has selected award-winning insurtech Mylo to provide its members with expert insurance coverage. NEWITY’s marketplace provides entrepreneurs equitable access to SBA loan solutions and trusted business services within its smart digital platform. Mylo’s proprietary technology delivers customized insurance advice and solutions from top carriers for a wide range of needs. This powerful combination will enable business owners to finance and protect their companies – all in one place.
NEWITY was founded in 2020 to service Paycheck Protection Program (PPP) loans. Harnessing the knowledge gained from servicing and originating 115,000 PPP loans, NEWITY launched its marketplace, offering SBA 7(a) working capital loans up to $25,000, as well as access to vetted business service providers. As part of its marketplace, NEWITY sought an expert insurance partner who could deliver coverage for its members’ businesses and products throughout the U.S.
“We’re proud to provide equitable access to the loans and services entrepreneurs need,” said David Cody, NEWITY Co-Founder and Co-CEO. “Mylo offers the breadth and depth of coverage we needed to enhance our offering of comprehensive business solutions.”
Mylo’s digital platform amplifies the value of NEWITY’s services by connecting business owners in multiple industries with the coverage they need to stay financially healthy. Backed by global investor Guggenheim Partners and the world’s largest independent broker Lockton, Mylo draws on 50+ years of Lockton insurance expertise. Their proprietary technology – The Mind of Mylo™ – delivers precise coverage recommendations for every business, matches risks with carrier appetites and finds the right insurance at the best value from multiple top-rated carriers.
“Mylo and NEWITY are both committed to using technology to give small business owners the resources they need to thrive,” said David Embry, Mylo CEO. “We’re excited to join NEWITY in giving their members a seamless way to finance and insure their growing companies.”
Mylo is a digital one-stop-shop that makes it easy for businesses and individuals to compare and purchase top-rated insurance products from multiple carriers, including business, small group benefits, home, auto, life and individual health. Launched in 2015 by Lockton, the world’s largest privately held independent insurance broker, Mylo offers expert insurance recommendations online or on the phone with licensed agents. Mylo can be easily integrated into a partner’s customer experience, providing a proven boost in customer engagement.
Source : https://www.newswire.com/news/small-business-marketplace-newity-selects-insurtech-leader-mylo-as-21653069