Coaction Specialty Insurance Group (Coaction) is a privately-owned, specialty property and casualty (P&C) insurance company headquartered in Morristown, New Jersey, with additional offices in Glendale, California, and New York City. Founded in 2009 as ProSight, the company completed a go-private transaction with investment management firm, TowerBrook Capital Partners (TowerBrook), and private-equity firm, Further Global Capital Management (Further Global), in August of 2021. Today, Coaction is a full specialty underwriter across five major product verticals: property, casualty, entertainment, executive liability, and multi-line.
Through these verticals, Coaction provides a range of coverages to customers across the U.S. via both open brokerage and delegated underwriting authority platforms. Coaction’s authentic, collaborative, and results-oriented culture is reflected in the focused approach the company takes to fulfilling the needs of each individual customer by combining product, analytics, and underwriting capabilities with strong industry knowledge and partnerships to develop real-world solutions. Through data-driven insights and collaboration with partners, the company coacts with customers and partners to rationally manage risk so businesses and communities can build a more ambitious, confident, and sustainable future.
Our vision, mission, and values are central to everything we do.
Our VISION is to be a world-class specialty insurance company unleashing customer ambitions. It serves as our purpose and overarching guiding objective.
Our MISSION is to coact with customers and industry partners to rationally manage risk so businesses and communities can build a more ambitious, confident, and sustainable future – together, we combine analytic ability with practical reasoning to create innovative insurance products establishing us as a world-class specialty insurance company. It represents what we do on a daily-basis to deliver on our purpose and realize our vision.
Essential to our success, Coaction’s VALUES represent our intrinsic beliefs and are important in and of themselves, they are reflective of how our organization operates.
We cultivate an authentic, results-oriented culture for the benefit of all our stakeholders. This ethos informed our decision to become the first commercial P&C insurer to convert to a Public Benefit Corporation (PBC), and it extends to the transparent, responsive approach we take to ESG issues. Coaction and our majority owner, Towerbrook Capital Partners, L.P., are certified B-Corps, a designation indicating that we meet the highest standards of verified social, environmental, public transparency, and legal accountability. We take pride in this designation and will continue to align our pursuit of sustainable ESG goals.
Our public benefit designations and our ESG work positions Coaction to consider emerging issues such as diversity, inclusion and climate in our decision-making while seeking profitable growth. Here is where we are today and how we are set up for future progress.
We specialize in what our customers do, so they can do it better. Judging from our business stats, our customized approach is working.