MBE-certified MGU and DE&I agency appoints insurance coverage trade executives to its board of administrators

NEW YORK, October 25, 2022 /PRNewswire/ — MBE has licensed Embrace Companions, Inc. (“Embrace”), a technology-driven managing normal underwriter (MGU) of specialised commerce surety and insurance coverage and consulting agency centered on cultivating numerous, project-ready companies for building initiatives, right now introduced the appointment of key executives to its Board of Administrators. The board will embody tizzio winsCEO, Insurance coverage and Reinsurance Specialty at AXIS; Paul WendlerSenior Vice President of CAC Specialty; valeria white, Senior Government Director of LISC NY; yr Sharon SmithSenior Managing Director and Chief of Workers of Ambac Monetary Group, Inc. (“Ambac”)

Embrace and Ambac lately introduced that they’ve fashioned a strategic partnership wherein Ambac has taken a minority stake in Embrace.

claude leblancAmbac’s CEO famous that, “David Cayemitte is each a visionary and a tactician, having launched The Cayemitte Group, an MBE/insurance coverage brokerage and consulting agency in 2005. We’re enthusiastic about this strategic partnership and funding in Embrace and proud to help this mission-driven firm “.

Embrace Companions is led by an trade veteran David Cayemitte, a extremely revered thought chief and energetic participant within the MWBE and insurance coverage markets. As a Minority Enterprise Enterprise (MBE), Embrace will reply to and take part in environmental, social and governance (ESG) initiatives. Embrace’s mission balances an ethical imaginative and prescient with a enterprise aim of aligning enterprise America in a means that can assist shut inequality gaps.

Embrace’s working platform will undertake a “digital first” mindset, leveraging applied sciences reminiscent of information science, synthetic intelligence and cloud computing to place effectivity and buyer expertise on the forefront of its mannequin.

Buying insurance coverage with Embrace permits consumers to advance their DE&I platform in trade for glorious services. For instance, Embrace has entered into a brand new settlement with Westchester, a Chubb firm that gives industrial extra and extra property and casualty coverages offered by way of wholesale brokers. Via the brand new facility, Westchester wholesale distribution companions will be capable to conduct enterprise by way of the Embrace platform, serving to brokers and prospects meet their variety objectives by way of insurance coverage spending.

Mr. Cayemitte, a former government with AIG, The St. Paul Corporations and Vacationers, explains, “Range has change into a high precedence for main organizations in each the private and non-private sectors. Shopping for insurance coverage and DE&I-focused applications are formidable technique of advancing ESG Commitments.” He continued: “Embrace Companions marks a landmark achievement throughout the insurance coverage trade and leads a broader motion to increase financial alternative for traditionally underserved teams. Certainly one of our major objectives is to extend the participation of minority- and women- and veteran-owned companies. disabled in service. -own corporations in public initiatives by way of entry to coaching, working capital, bonds and placement of insurance coverage”.

Embrace has assembled an ecosystem of providers that domesticate project-ready small and diversely owned building companies. Embrace will supply academic providers by way of the Minority Enterprise Improvement Institute, a 501(c)(3) company based by Cayemitte in 2010 and supported by Embrace as a significant donor, to supply financial alternative for minority-owned companies. MBDI-trained contractors have been employed by companies and authorities companies that require miscellaneous spending for growth initiatives, together with the New York State Bed room Authority (DASNY).

“David and his group are centered on serving to underserved populations, particularly minority and women-owned companies and disabled veteran-owned companies, take part within the building trade,” he mentioned. miguel clay, Senior Director of the Alternative Packages Group and Co-Lead of Acquisitions at DASNY. “They supply the coaching, entry to capital and bonding wanted to bid on initiatives as a primary contractor, which is a sport changer. Partnering with Ambac will enable Embrace to supply these crucial applications to contractors throughout the nation.”

Embrace has already begun participating different minority-owned suppliers to facilitate its mission and flow into {dollars} in varied communities, together with hiring Delphin Funding, owned by Haitian-born CEO Man-Max Delphin, to supply subscription providers, and Blanche LCC, a black owned enterprise. Agency of public accountants to supply consulting and accounting providers.

David CayemittePresident and CEO of Embrace Companions
[email protected]

SOURCE Embrace Companions

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