Authentic

Authentic (Authentic Insurance) is a New York-based insurtech that supplies the infrastructure behind specialized commercial insurance programs. Its platform positions itself as an end-to-end program management system: a single operating environment holding all of a partner's programs, a rate-quote-bind engine, configurable pricing based on the partner's own data with pre-set default coverages, limits and options, and real-time reporting on book performance, upcoming renewals and payments.

The company's earlier described model applied the captive insurance structure to software companies and communities. SaaS platforms, franchisors, associations and other communities could establish their own captive insurance programs for small-business coverage, integrating with "one line of code," while Authentic handled underwriting, claims management, and capital markets and reinsurance in exchange for a fee. That offering served businesses with less than $5 million in annual revenue, with planned expansion into workers' compensation, health insurance products and benefits.

Authentic describes its team as a mix of insurance entrepreneurs, technologists and finance-oriented operators, and frames the shift toward programs — tailored coverage designed around specific classes and niches — as a structural change in the market driven by fragmentation and expanding specialty distribution. Its stated underwriting thesis is that year-over-year data patterns allow faster, more decisive risk selection and separation of good data from bad.