Greenlight Re Innovations (“GRI”), part of Greenlight Capital Re, Ltd. (NASDAQ: GLRE) (“Greenlight Re” or the “Company”), a specialist property and casualty reinsurance company headquartered in the Cayman Islands, has announced it has made a strategic investment in Battleface, Inc. (“Battleface”), a managing general agent specializing in insurance that covers travel to remote, unstable or dangerous locations.
Battleface’s specialty insurance products and services benefit a growing population of contractors, explorers, journalists, humanitarian workers, freelancers and adventure seekers who are currently underserved by traditional travel insurance products. Battleface’s tech-driven platform is supported by an experienced network of 24/7 assistance coordinators, medical providers and on-the-ground field agents who provide emergency claims, medical and travel assistance services on a global basis.
Battleface builds custom and white-label products via an API-based distribution system. This platform keeps policies lean and allows for additional options in services, benefits and pricing. Individuals, associations, corporations and groups now have access to tailor-made insurance policies that meet their specific needs.
Greenlight Re Chief Executive Officer Simon Burton said: “Battleface is led by a team of experienced travel insurance professionals who have identified a niche demand for insurance that is not adequately met through traditional travel insurers. We are excited to support them as both a strategic investor and risk partner.”
Battleface Chief Executive Officer Sasha Gainullin said: “We are enthusiastic about what this partnership brings to our platform. Not only does the investment take us on to the next phase of our business development, it also gives us access to a new client base and the opportunity to provide tailored products and services to unconventional travelers and international workers who we otherwise would not have been able to reach.” Battleface represents the eighth strategic investment made by Greenlight Re Innovations.