Sypher Secures Strategic Partnership with FAIA to Fuel Growth

TAMPA, Fla., March 28, 2024 /PRNewswire/ -- Sypher, a leading innovator in the (re)insurance product and technology sector, is excited to announce a significant milestone in its journey towards providing sustainable and affordable property insurance to Florida homeowners. The Florida Association of Insurance Agents (FAIA), Florida's leading voice for independent insurance agents, has entered into a strategic partnership with Sypher, contributing to their recently launched fundraising effort.

FAIA's partnership with, and investment in, Sypher underscores a shared commitment to empowering independent agents with the tools and resources they need to thrive in a competitive environment. By joining forces, Sypher and FAIA aim to cultivate a more stable and accessible insurance market that benefits agents and policyholders alike.

"FAIA is excited to partner with Sypher, whose mission to provide sustainable and meaningful capacity aligns with our commitment to supporting the growth and success of independent agents throughout Florida," said FAIA President & CEO Kyle Ulrich. "We are impressed by Sypher's experienced team, agent-centric platform, and established reinsurance partnerships. We believe their innovative approach will create a more dynamic and accessible insurance market, benefiting both agents and policyholders." 

Sypher views its partnership with FAIA as a crucial step in scaling their innovative, tech-driven (re)insurance ecosystem. This initiative aims to empower Florida's independent agents by providing them with more sustainable market options, enabling them to better serve their policyholders.

"Our collaboration with the Florida Association of Insurance Agents marks a pivotal moment for Sypher," said Subhashish Dutta, CEO of Sypher. "With FAIA's support, we are poised to introduce innovative solutions that address the unique challenges independent agents face in Florida. This strategic investment will accelerate our efforts to create a more stable and resilient insurance market."

As Sypher moves forward with its ambitious (re)insurance strategies, the support from FAIA will be instrumental in ensuring the success of this initiative. Together, Sypher and FAIA are setting a new standard for collaboration in the insurance industry, driving positive change for independent agents and their clients.

For more information about Sypher, please visit www.getsypher.com.

About Sypher

Sypher is a tech-driven (re)insurance company, founded by veteran industry experts, set to revolutionize the coastal insurance landscape. Through innovative insurance, reinsurance, and technology solutions, they are crafting sustainable and affordable options for vulnerable coastal markets. Their forward-thinking approach, utilizing AI and machine learning, brings long-term stability to pricing and capacity across the (re)insurance ecosystem.

About the Florida Association of Insurance Agents

The Florida Association of Insurance Agents is a nonprofit state trade association of insurance agencies affiliated with the Independent Insurance Agents and Brokers of America, Inc. It represents more than 2,000 independent property and casualty agency members. For more information, visit www.faia.com.

Contact Information:

Crystal McInnis, Chief Revenue Officer

cmcinnis@getsypher.com

888-391-0264

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SOURCE Sypher