Property cat-focused MGU and insurtech SageSure has partnered with newly established SureChoice Underwriters Reciprocal Exchange (SURE) to bring new homeowners capacity to Texas.


The Demotech, A-rated reciprocal exchange start-up is the first to be launched in Texas since 2004 and will distribute products exclusively through SageSure’s network of agents and brokers.

Reciprocal exchanges are policyholder-owned and managed by a so-called attorney in fact for a fee.

SURE is the latest in a series of reciprocal exchanges launched in the last two years, including those by insurtech Branch and Kin, and property cat-focused MGA Orchid’s tie-up with Homesite on TRUE.

SURE is led by former Independent Mutual Fire Insurance Company (IMF) president and CEO Ed Konar as president and a team of industry veterans through the attorney in fact.

They include his former IMF colleague Scott Sauls as director of claims and underwriting and former Kemper executive Ed Schultz as director of finance and treasurer.

IMF is an existing carrier partner of SageSure.

The reciprocal exchange is expected to expand into other coastal states over time where there is demand for property catastrophe insurance.


Commenting on the tie-up, SageSure CEO Terry McLean said: “We’re proud to add SURE to our portfolio of highly rated carriers as we continue to fulfill our promise of delivering dependable insurance solutions where they are needed most.

“This partnership will help us meet the increasing demand for quality coverage in Texas for homeowners with significant catastrophe exposure, with first-class customer service to match. The subscriber-owned structure of SURE aligns perfectly with our focus on putting the customer at the center of everything we do.”

Konar added that SURE is committed to delivering insurance solutions to homeowners in markets with unique needs because of their catastrophe exposures.

“Our decision to initially launch in Texas was driven by the rapidly increasing demand for highly rated coverage in the state. We will continue to expand to underserved areas where we can make a difference,” he commented.

SageSure was launched in 2005 and is led by former RenaissanceRe executive McLean.

It pitches itself as an “innovation-focused insurance and technology company specializing in catastrophe-prone property markets” and claims to be the “leading homeowners insurtech organization in the US measured by premium and profitability”.

The MGU partners with a growing network of insurance agents and brokers in 14 coastal states and deploys an online quoting and binding platform along with “sophisticated modeling and scoring technology”.

It currently has nine offices across the US, including Jersey City, Atlanta, Chicago, Tallahassee and Cincinnati.

It has a number of existing carrier relationships, including Acceptance Casualty, FedNat, Harco National, IMF, Occidental Fire and Casualty Co of North Carolina, Safeport, TransGuard and Wiltshire Insurance Company.