captive-insurance
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Cole Riccardi
Cole Riccardi is the founder and CEO of Authentic, a New York based insurtech startup that lets software platforms and affinity groups launch their own branded insurance programs. A former investor at Aquiline Capital Partners and a Notre Dame finance graduate, he left the investing side of insurance in 2022 to build what he calls 'captive-in-a-box' - turnkey infrastructure that brings captive insurance, once reserved for large corporations, to gyms, restaurants, salons and other small businesses. Authentic has raised roughly $16 million, including an $11 million Series A led by FirstMark Capital.
Authentic
Authentic is a New York insurtech building the infrastructure that lets software companies, franchisors, and associations launch their own insurance programs - so-called captives - for the small businesses they already serve. Its 'Captive in a Box' platform handles the parts that normally take years and a team of specialists: underwriting, rate filings, actuarial work, reinsurance, capitalization, regulatory compliance, and claims. Partners such as Mindbody, Restaurant365, PushPress, and theCut can embed tailored coverage for gyms, salons, restaurants, and other Main Street businesses through a single integration, while member businesses can share in the savings when claims run low.