Novatae Risk Group

What Novatae Risk Group does

Novatae Risk Group is a wholesale specialty insurance distributor and Managing General Agency (MGA) launched in November 2022 as the wholesale arm of World Insurance Associates LLC. The company serves independent insurance agents and retail brokers in the US and UK, providing access to specialty and Excess & Surplus (E&S) lines across more than 500 global insurers and 497+ carrier markets. Novatae operates as a wholesale broker, program underwriter, and Lloyd's of London Coverholder, with binding authority on Lloyd's syndicates and a portfolio of exclusive MGA programs spanning casualty, construction, cyber, environmental, errors & omissions, garage liability, marine, management liability, property, workers' compensation, fine art, animal mortality, builders' risk, allied healthcare, and private client solutions. The company's revenue model is commission-based: as a licensed insurance broker, it is compensated as a percentage of premium collected by insurers, with additional contingent compensation tied to volume and/or profitability; no public pricing is disclosed because each policy is tailored to the client's risk profile.

The company is the product of an active roll-up strategy, having acquired and integrated at least MarketScout Corporation (November 2022), Far East Insurance Marketing (July 2023), American Management Corporation (September 2023), Bretton Woods International (March 2024), Denali Specialty Group (July 2024), and Ajax Specialty Insurance (April 2025), with 17 acquired entities currently being migrated onto a single ALIS policy administration platform. Its go-to-market is exclusively channel-based: independent agents and retail brokers submit complex and hard-to-place risks via Novatae's "Get a Quote" portal or through direct appointment, while the company also actively recruits MGA, program manager, and wholesaler partners as equity-bearing early partners. Underlying technology includes the internally developed Magellan BI software and the ALIS policy administration platform, both intended to increase productivity across the integrated broker network.

Name

Novatae Risk Group

Legal name

Novatae Risk Group

Website

https://novatae.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

51–100 employees

Short description

Novatae Risk Group is a US- and UK-based wholesale specialty insurance broker and Managing General Agency serving 6,000+ independent agents and retail brokers with access to 500+ global insurers, Lloyd's Coverholder binding authority, and exclusive MGA programs.

Ownership category

akta.pro rank

Product category

Wholesale Insurance Brokerage & MGA

NAICS

Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Carriers (5241)

SIC

Insurance Agents, Brokers & Service (6411), Insurance Carriers, Nec (6399), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

Keywords

• Wholesale insurance brokerage
• Managing general agency
• Specialty insurance distribution
• Excess surplus lines
• Program underwriting

Headquarters

HQ city

Grapevine

HQ country

United States

HQ region

North America

Offices25 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Insurance Broker Commissions: Novatae Risk Group, as a licensed insurance broker, confers with or advises on terms or conditions of insurance contracts, negotiates with insurance carriers on behalf of clients, and obtains insurance coverages as requested. Compensation is customarily based on commission calculated as a percentage of the premium collected by the insurer and is paid by the insurer. Additional contingent compensation may be received based on volume of business and/or profitability of insurance contracts.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Novatae Risk Group is a modern specialty insurance distributor operating as a wholesale broker, Managing General Agency (MGA), program underwriter, and Lloyd's of London Coverholder. It provides independent insurance agents and retail brokers with access to exclusive underwriting solutions and specialty/E&S coverage from more than 500 global insurers across dozens of industry classifications. Its core function is placing complex, hard-to-place commercial risks through proprietary MGA programs and multi-carrier brokerage arrangements.

Product overview

Novatae Risk Group is a wholesale insurance broker and Managing General Agency (MGA) offering specialty insurance solutions through a platform of MGA programs and lines of coverage. The company operates as both a wholesale broker and MGA/program underwriter, providing exclusive underwriting solutions for dozens of industry classifications from more than 500 global insurers. Its MGA programs include Allied Assisted Living Facility, Allied Healthcare, Animal Mortality, Builders' Risk, Contractors Guard, Convenience Store, Fine Art & Specie, Flood Program, Miscellaneous Professional Liability (MPL), and Private Client Solutions. The company offers lines of coverage including Cyber & Privacy Liability, Environmental, Errors & Omissions, Garage Liability, General Casualty, Inland Marine/Ocean Marine, Management Liability, Property, Specialty Products, and Workers' Compensation. Novatae serves various industries including Construction, Financial Solutions, Healthcare, Hospitality, Manufacturing, Real Estate, and Transportation. The company is also a Lloyd's Coverholder.

Differentiator

Problem solved

Functional benefit

Brands

• MarketScout: Brokerage and distribution brand acquired by Novatae, operating as part of the wholesale insurance business.
• Scottish American
• Ajax Specialty Insurance
• Far East Insurance Marketing

Products and services

• Wholesale Insurance Brokerage Modern specialty insurance distribution through wholesale brokers, providing innovative placement solutions and exclusive underwriting options from responsive brokers and underwriters for independent insurance agents and retail brokers.
• MGA / Program Underwriting Managing General Agency operations providing exclusive underwriting solutions for dozens of industry classifications from more than 500 global insurers, with proprietary program authority across niche specialty lines.
• Lloyd's of London Coverholder Services Access to Lloyd's of London markets through coverholder agreements with binding authority, enabling placement of complex, hard-to-place specialty risks through Lloyd's syndicates.
• General Casualty Insurance Broad casualty coverage for various business risks including general liability exposures, provided as a line of coverage within Novatae's specialty insurance solutions.
• Cyber & Privacy Liability Coverage protecting businesses against cyber threats, data breaches, and privacy-related liabilities, placed through Novatae's specialty brokerage network.
• Environmental Insurance Coverage for environmental risks and pollution-related liabilities faced by businesses across multiple industry classifications.
• Errors & Omissions (E&O) Professional liability coverage protecting against claims arising from negligent professional services or advice.
• Garage Liability Coverage for auto dealers, service stations, and garage operations against bodily injury and property damage claims.
• Inland Marine / Ocean Marine Coverage for goods in transit, mobile equipment, and marine cargo exposures across commercial transportation and logistics operations.
• Management Liability Coverage including directors and officers liability, protecting business leadership from management-related exposures.
• Property Insurance Coverage for commercial and residential properties against various perils, including specialty and non-admitted property placements.
• Workers' Compensation Coverage for workplace injuries and illnesses, including claims management and compliance support, offered through dedicated workers' comp division.
• Builders' Risk MGA Program Insurance coverage for construction projects during the building phase, protecting against damage to materials, labor, and soft costs.
• Animal Mortality MGA Program Specialized program for insuring equine, livestock, and canine mortality risks, providing coverage to specialized agents on a nationwide basis.
• Fine Art & Specie MGA Program Specialized coverage for fine art, jewelry, and collections, offering customized solutions for high-value items and hard-to-place collections.
• Flood Program Coverage program addressing flood insurance needs, particularly important for properties in high-risk areas.
• Miscellaneous Professional Liability (MPL) Program Exclusive Miscellaneous Professional Liability program launched in November 2024 providing miscellaneous professional liability coverage for various professional clients.
• Convenience Store MGA Program Insurance program tailored for convenience stores and similar retail operations.
• Private Client Solutions MGA Program High net worth insurance solutions for private clients, offering customized coverage for affluent individuals and families.
• Allied Assisted Living Facility Program Specialized insurance program for assisted living facilities, providing coverage solutions for the healthcare sector's unique risk exposures.
• Allied Healthcare MGA Program Insurance program covering healthcare-related risks across various allied health service providers.
• Contractors Guard MGA Program Comprehensive insurance program designed for contractors, providing coverage for various construction-related risks.
• Contractors Guard Construction Defect Program Specialized program addressing construction defect exposures for contractors.

Quantifiable outcome

• $760M+ to $971M+ in Annual Written Premiums
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• World Insurance Associates LLCcoreOthersNovatae Risk Group is the wholesale insurance division of World Insurance Associates LLC (World Insurance). The company was launched in November 2022 as a rebranding of World Insurance's wholesale distributors into a new dynamic brand.
• Ajax Specialty InsuranceminorStrategic or Co-development PartnerNovatae acquired Atlanta-based Ajax Specialty Insurance in April 2025, a wholesaler specializing in management and professional liability insurance with coverage including D&O liability, E&O, and technology and cyber liability products. Ajax had 8 employees and was founded in 2012.
• MarketScout CorporationcoreStrategic or Co-development PartnerNovatae acquired Dallas-based MarketScout Corporation in November 2022, integrating its operations and appointing Richard Kerr as CEO. MarketScout brought expertise in specialty areas including private client solutions and healthcare.
• Far East Insurance Marketing, Inc.minorStrategic or Co-development PartnerNovatae acquired the assets of Far East Insurance Marketing, Inc., a wholesale agency serving independent insurance agents, on July 1, 2023. The acquisition aimed to expand Novatae's offerings in specialized insurance products for real estate-centered clients.
• Denali Specialty GroupminorStrategic or Co-development PartnerNovatae acquired Denali Specialty Group in July 2024, adding Michael Eichorn (Head of US Property Binding Facility) and Kerri Senger (Underwriting Facilities Leader) to the team.
• Bretton Woods InternationalminorStrategic or Co-development PartnerBretton Woods International joined Novatae in March 2024, expanding Novatae's capabilities in international specialty insurance.
• American Management CorporationminorStrategic or Co-development PartnerAmerican Management Corporation joined Novatae in September 2023, adding professional lines and management liability expertise.
• Applied Home National UnderwritersminorStrategic or Co-development PartnerBrian Voorhees joined Novatae from Applied Home National Underwriters, where he directed day-to-day operations for a specialty non-admitted MGU focused on the high-net-worth market. Prior employer providing executive talent pipeline.
• Lloyd's of LondoncoreTechnology or IntegrationNovatae operates as a Lloyds Coverholder with binding authority, enabling the company to underwrite and bind specialty insurance coverage on behalf of Lloyd's of London. Multiple team members including SherrLee Golaub and Courtney Kerr are named underwriters on various Lloyd's coverholder contracts.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Burns & Wilcox: Burns & Wilcox is the wholesale brokerage and specialty insurance division of H.W. Kaufman Group, directly comparable to Novatae as a leading US wholesale broker offering specialty and excess & surplus lines through retail agent distribution with deep carrier market access.
• Risk Placement Services (RPS): RPS is a top US wholesale insurance broker and MGA offering specialty and E&S solutions to retail agents across personal and commercial lines, directly comparable to Novatae's wholesale broker/MGA model.
• CRC Insurance Services: CRC Insurance Services is a large US wholesale insurance broker and MGA serving independent retail agents with specialty and excess & surplus lines, directly competing with Novatae in the wholesale distribution space.
• Amwins: Amwins is one of the largest US specialty insurance wholesalers and MGAs, distributing through retail agents across P&C and specialty lines; a top-tier direct peer to Novatae in wholesale specialty distribution.
• Swett & Crawford: Swett & Crawford is a wholesale insurance broker distributing specialty and excess & surplus lines through retail agents, directly comparable to Novatae's wholesale brokerage model.
• USG Insurance Services: USG Insurance Services is a US wholesale broker and MGA specializing in niche programs across P&C and specialty lines, comparable to Novatae's MGA program and wholesale brokerage offerings.
• DUAL North America: DUAL North America is a specialty MGA distributing to retail brokers across professional and commercial lines; its M&A and program-led model (where COO Kimberly Jenkins previously worked) is directly comparable to Novatae's MGA platform.
• Brown & Riding: Brown & Riding is a wholesale insurance brokerage providing specialty and surplus lines solutions through retail agents, directly comparable to Novatae's open brokerage and specialty distribution model.

Broad incumbents

• World Insurance Associates: World Insurance Associates is Novatae's parent company and a large US retail insurance brokerage platform; relevant as the strategic owner providing capital, M&A capacity, and operational infrastructure to Novatae.

Emerging players

• Skycover Insurance: Skycover is an emerging digital wholesale/MGA platform bringing tech-enabled distribution to specialty lines, a thematic comparable to Novatae's technology-driven modernization of traditional wholesale brokerage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/novataeriskgroup
• LinkedInlinkedin.com/company/novatae-risk-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Novatae Risk Group