Slingshot Insurance and Skyward Group Partner to Accelerate Growth in Embedded Insurance

Slingshot customers gain immediate access to an AM Best A-rated carrier across all 50 states.

Rhea-AI Summary

Skyward Group (SKWD) has become Slingshot Insurance's primary carrier partner following its investment in the embedded-insurance company's seed funding round. Skyward co-led the $27 million round; that figure represents Slingshot's total round, not Skyward's individual investment.

The partnership gives Slingshot customers immediate access to an AM Best A-rated carrier across all 50 states. It combines Slingshot's insurance technology infrastructure with Skyward's underwriting and product expertise. Skyward expects the partnership to help Slingshot scale and extend Skyward's specialty insurance capabilities into an embedded-insurance market it does not currently serve.

3 points · 0 major

PositiveiHow this balance works

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Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointSkyward's primary carrier partnership gives Slingshot customers immediate access to A-rated capacity across all 50 states.
• Minor pointSkyward co-led Slingshot's $27 million seed round, establishing an investment alongside the carrier partnership.
• Minor point. Forward-looking: it has not happened yet and may not happen.Skyward expects the partnership to extend its specialty insurance capabilities into a market it does not currently serve.

Negative

• None.

Key Figures

Seed round: $27 million States covered: 50 states

Seed round

$27 million

Slingshot funding round co-led by Skyward Group

States covered

50 states

Nationwide access through Skyward as primary carrier partner

Key Terms

p&c, managing general agents

2 terms

p&c financial

"one of the fastest-growing segments of the P&C market"

P&C stands for property and casualty insurance, the sector that protects physical assets (homes, cars, buildings) and pays for legal or repair costs when people or property are harmed. Investors watch P&C businesses because they generate steady premium income but face sudden, often large claims after accidents or disasters, so profitability can swing sharply—think of premiums as a safety net that can stretch or tear under big losses.

managing general agents financial

"For managing general agents (MGAs) and others looking to capitalize"

Managing general agents (MGAs) are specialized insurance intermediaries that receive delegated authority from an insurer to perform underwriting, pricing, binding coverage, issuing policies, and often handling day-to-day claims and policy administration on the insurer’s behalf. They are not the insurer of record; their powers and limits come from a written contract with the insurer and can include product design, distribution and premium collection, while the insurer retains ultimate financial responsibility unless the MGA also carries agreed-upon risk. Think of an MGA as a local office that runs parts of an insurer’s business under a formal delegation rather than as an independent insurance company.

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After a strategic investment in Slingshot's $27 million seed round, Skyward is now the company's primary carrier partner, giving customers immediate access to A-rated capacity nationwide

MINNEAPOLIS and HOUSTON, Oct. 27, 2026 /PRNewswire/ -- Slingshot Insurance, the AI-native insurance company built for the embedded economy, today announced a strategic partnership with Skyward Group, the specialty insurance organization whose operating businesses include Skyward Specialty Insurance Group, Inc.® and Apollo Group Holdings Ltd. Skyward Group now serves as Slingshot's primary carrier partner, providing its customers with immediate access to an AM Best A-rated carrier across all 50 states.

The announcement comes after Slingshot recently emerged from stealth with a $27 million seed funding round co-led by Skyward Group. As embedded insurance establishes itself as one of the fastest-growing segments of the P&C market, Slingshot is purpose-built to deliver the technology, capacity, and speed to launch and scale insurance products for those niche and rapidly evolving embedded opportunities, such as amateur sports, travel, and the gig- and independent-work economy.

Through the strategic investment and partnership, Slingshot will harness Skyward's insurance expertise, innovation capabilities, digital economy expertise, and strength and scale to accelerate the speed and value it can deliver to customers. Combining these capabilities with Slingshot's infrastructure provides a powerful foundation for identifying and bringing new opportunities to this dynamic market.

"Slingshot was built around the belief that a new generation of insurance opportunities requires a different kind of carrier infrastructure. Our AI-native platform is designed to dramatically reduce the time and cost required to build, launch and scale insurance products, particularly in markets where high transaction volumes and lower premiums have historically been difficult for traditional carrier models to serve," said Ethan Genteman, co-founder and CEO of Slingshot Insurance. "Skyward is an ideal, complementary partner because they bring deep specialty insurance expertise, financial strength, experience with emerging risks, a culture that moves quickly, and a strong commitment to innovation. Together, we have an opportunity to bring new insurance products to market faster and expand what is economically possible in embedded insurance."

"Embedded insurance solutions represent an important evolution in how specialty insurance can reach customers, particularly as businesses increasingly seek to distribute products and services through digital platforms," said Andrew Robinson, Chairman and CEO of Skyward Group. "With every business opportunity we pursue, we contemplate a build versus partner approach, and we believe Slingshot is the ideal partner for Skyward to pursue the embedded market. Slingshot's platform and knowledge of this market, combined with Skyward's underwriting, product, and technical insurance know-how, as well as our experience in emerging risk, including across the digital economy, make this a compelling partnership and attractive strategic investment for Skyward Group. With our strategic support, Slingshot will more rapidly scale its embedded insurance model and extend Skyward's specialty into an entirely new market that we do not serve today." 

About Slingshot Insurance

Slingshot Insurance is an AI-native insurance company built for the embedded economy. For managing general agents (MGAs) and others looking to capitalize on the fast-growing embedded insurance market, Slingshot provides the infrastructure to replace the fragmented legacy tools and inefficient processes that have historically hindered innovation in higher-frequency, lower-severity insurance products.

The AI-native platform automates complex, data-heavy workflows while ensuring every decision is fully auditable, reconcilable, and explainable, providing the transparency and speed required to operate embedded products profitably and at scale across emerging markets such as travel, amateur sports, and the gig economy.

For more information, visit www.slingshotinsurance.com.

About Skyward Group

Skyward Group (Nasdaq: SKWD) is the holding company brand for its U.S. and U.K. businesses, Skyward Specialty Insurance Group, Inc.® and Apollo Holding Group, respectively, delivering a comprehensive suite of specialized insurance solutions across global specialty property and casualty markets. Focused on the specialty industry's most niche, complex risks of today and the emerging challenges of tomorrow, Skyward Group leverages the forward-looking insight and disciplined execution of each organization to drive sustainable growth and long-term value for its shareholders, distribution partners and other stakeholders. For more information about Skyward Group, Skyward Specialty and Apollo, please visit skywardgroup.com.

View original content:https://www.prnewswire.com/news-releases/slingshot-insurance-and-skyward-group-partner-to-accelerate-growth-in-embedded-insurance-302918426.html

SOURCE Slingshot

FAQ

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What does the Skyward Group and Slingshot Insurance partnership cover?

Skyward Group is now Slingshot Insurance's primary carrier partner, giving Slingshot customers immediate access to an AM Best A-rated carrier across all 50 states. The partnership combines Slingshot's technology infrastructure with Skyward's underwriting, product and technical insurance expertise.