Embrace Partners, Inc. (“Embrace”), a minority business enterprise-certified (MBE), tech-driven wholesale insurance broker and managing general underwriter (MGU) of specialty commercial insurance and surety, today announced it has gained another partner with EPIC Insurance Brokers & Consultants (EPIC), one of the top 20 retail insurance brokers in the United States.
For the first time, because Embrace is certified as an MBE, all parties across the insurance transaction including clients, retail brokers, and insurance carriers can earn diversity credits for the premium dollars paid for insurance placed through Embrace. Embrace has joined the ranks of national wholesalers as it expands its partnerships with retail brokers. Before Embrace entered the market, there were no other MBE certified wholesale brokers. Now, EPIC can simply engage Embrace to access wholesale markets for clients who “embrace” diversity at their organizations. Embrace is changing the landscape for supplier diversity and is offering a way for retail brokers to differentiate their offerings from other firms.
“We are excited to partner with EPIC, a rapidly growing firm that has demonstrated a deep commitment to diversity. Corporations are looking to spend procurement dollars with businesses that represent all their customers, including minorities, women, and veterans.” said David Cayemitte, President, and CEO of Embrace. “Embrace offers insurance buyers, brokers and carriers the ability to incorporate diversity into insurance distribution.”
“Diversity, equity, and inclusion at EPIC are cornerstones of our culture and extending this externally to our clients with our partnership with Embrace is exciting. As a prior Women Business Enterprise owner, myself, I know the challenges that diverse businesses face. The EPIC/Embrace partnership will allow us to provide our clients the opportunity to build their culture of inclusion, while supporting the growth of a diverse business. I truly believe the Embrace operation will be a win-win for everyone,” said Christine Sadofsky, Executive Managing Director of EPIC’s Entertainment & Sports Practice.
Embrace Partners is led by industry veteran David Cayemitte, a former executive at AIG, St. Paul’s, and Travelers. In 2021 Cayemitte founded Embrace Partners. Ambac Financial Group, Inc (“Ambac”) a financial service company, holds a minority interest in Embrace Partners.
