Ahoy! Launches Recreational Boating Insurance – For Boaters, By Boaters

Available directly and via agents the company leverages proactive, risk-reducing technology to offer recreational boaters innovative insurance policies designed for the modern boater across the US

[New York, New York – June 7^th, 2022] Ahoy!^®, the new digital insurance MGA for recreational boating, today launched its unique technology-driven insurance product for the boating industry. Built by boaters for boaters, Ahoy! combines its proactive, risk-reducing technology, with its founders’ deep knowledge of both boating and insurance to deliver innovative insurance policies for the 21^st century.

In partnership with Spinnaker Insurance Company, a national property and casualty insurer rated A- (Excellent) by A.M. Best Company, and with backing from specialist reinsurers Greenlight Re and Topsail Re, Ahoy!’s insurance policies will be available directly and through agents, to boat owners in Arizona, Ohio, Wisconsin, and Illinois, with plans to expand across the US in the coming months.

Legacy insurance companies have failed to adapt to the unique needs of the modern boater and tend to bundle boat insurance with other home insurance offerings. Ahoy!’s sole focus is on this underserved segment, using technology to help protect boater’s vessels and providing them peace of mind, turning what was previously viewed as financial security into a proactive and protective asset. Ahoy!’s team is composed of naval veterans, insurance experts, and experienced high-tech executives, harnessing their expertise to create a holistic digital insurance product that is tailored to boaters’ specific needs. Ahoy! has also assembled an advisory board full of insurance luminaires, including Matthias Weber, former Chief Underwriting Officer at SwissRe.

“A boat isn't just another piece of property, it's a lifestyle choice. It's where you create memories, where you escape to when you need a little serenity or the place to run to for some excitement. We're boaters, we get that,” said Ahoy! CEO and Co-Founder, Amit Nisenbaum. “Ahoy! offers a new kind of boat insurance, not only insuring boats but providing technological tools that help boaters proactively avoid risk. Ahoy! gives boaters peace of mind knowing their needs and concerns are addressed by fellow boaters and they can rest assured that their treasured vessels will be protected and ready to enjoy at any time.”        

Ahoy!’s customers receive an onboard smart boat kit, which works alongside a proprietary mobile app to offer advanced telemetry features that proactively help reduce risk and prevent damage or injury and comes with a phone overboard protection policy. The mobile app offers alerts such as grounding avoidance, theft recovery assistance, and micro-targeted weather alerts and forecasts, and will soon include a digital logbook and data collection for future trips.

“At Spinnaker, we provide strategic insurance solutions to our partners and deliver a range of services that help high-growth businesses like Ahoy! reach their full potential” said Spinnaker’s President and CEO Torben Ostergaard. “We are very excited to work with Ahoy! in bringing their new insurance product to market to serve recreational boaters across the country.”

Ahoy!, which is distributed through independent agents and directly online, enables millions of licensed insurance agents in the US to offer tailored boating policies to their customers quicker and more easily.

“We are excited to provide agents with a product that keeps boaters safe on the water,” said Ahoy! Chief Insurance Officer and Co-Founder, Kaenan Hertz. “Understanding that ease of use is a critical factor, Ahoy! makes it easier for agents to offer their customer's boat insurance that is tailored to their needs, making issuing and managing policies as easy as possible.”

About Ahoy!

Ahoy! is a tech-driven insurance MGA transforming the recreational boating insurance industry from a financial hedge into a proactive asset. Built by boaters for boaters, Ahoy! combines its proactive, risk-reducing technology, with its founders’ deep knowledge of boating and insurance to create innovative insurance policies for the 21^st century. Using on-board Internet of Things (IoT) technology, as well as AI and Big Data, Ahoy! offers a proprietary risk reduction solution to proactively prevent boating mishaps, therefore increasing the time boaters can enjoy their vessel. In times of need, Ahoy! ensures swift, modern, and non-intrusive assistance and claims processing support so that boaters can be back on the water in no time. Co-founded in 2021 by a team of naval veterans, insurance experts, and experienced high-tech executives, Amit Nisenbaum, Kaenan Hertz, Shachar Segev, and Arie Ambramovici. Ahoy! an insurance agency licensed to sell property-casualty insurance products has offices in New York and Israel. For more information, visit: https://ahoy.insure/

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Raanan Loew

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