Converge Insurance

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Converge Insurance

| subheader = Converge Inc. d/b/a Converge Insurance Service Solutions | subheaderstyle = font-weight:bold; font-size:105%;

| image = {{#invoke:InfoboxImage|InfoboxImage|image=Logo of Converge Insurance.svg|size=|sizedefault=frameless|alt=Converge Insurance logo}} | caption =

| header1 = Corporate identity

| label2 = Type | data2 = Private — insurtech MGA/program administrator | class2 = category

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| label5 = LEI | data5 =

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| label8 = License type | data8 = Surplus lines agency/producer

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| label13 = Founded | data13 = 2021 (2021){{#invoke:Check for unknown parameters|check|unknown=|preview=Page using Template:Start date and age with unknown parameter "_VALUE_"|showblankpositional=1| 1 | 2 | 3 | br | df | end | p | paren }}

| label14 = Headquarters | data14 = 26 Broadway, Suite 328, New York, NY 10004 | class14 = label

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| label17 = Licensed jurisdictions | data17 = United States (50 states)

| label18 = Regulator | data18 = State surplus lines regulators (Massachusetts, Texas, Louisiana, and others)

| label19 = Ultimate parent | data19 =

| label20 = Major shareholders | data20 = Forgepoint Capital
QBE Ventures

| label21 = Group status | data21 =

| label22 = Key people | data22 = Tom Kang, Chief Executive Officer
Howie Altman, Chief Technology Officer
David Kimmel, Chief Financial Officer
Anthony Dagostino, Founder (former CEO; departed September 2023)

| label23 = Number of employees | data23 =

| header24 = Business & markets

| label25 = Operating status | data25 =

| label26 = Customer segments | data26 = Companies up to $1B in gross annual revenue

| label27 = Lines of business | data27 = Cyber insurance
Technology errors and omissions
Media liability
Professional liability (announced)

| label28 = Business segments | data28 =

| label29 = Main products & services | data29 = ConvergeElements
ConvergeConnect
API products

| label30 = Technology platform | data30 = Proprietary AI-powered underwriting and claims platform

| label31 = Capacity providers | data31 = QBE North America
Obsidian Insurance Group (backed by reinsurer panel)

| label32 = Distribution | data32 = Wholesale brokers
Select agents and brokers
Technology provider partnerships
API access

| label33 = Geographic markets | data33 = United States

| label34 = Branches | data34 =

| label35 = Customers served | data35 =

| label36 = Competitors | data36 = At-Bay
Coalition
Corvus Insurance
Cowbell
Resilience

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| header38 = Key financials

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| label42 = Insurance revenue | data42 =

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| label46 = Gross written premium | data46 =

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| label50 = Commission / MGA fee | data50 =

| label51 = Total assets | data51 =

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| label53 = Technical reserves | data53 =

| label54 = Contractual service margin | data54 =

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| label58 = Solvency ratio | data58 =

| label59 = Return on equity | data59 =

| label60 = Total funding raised | data60 = $20,000,000

| label61 = Last funding round | data61 = $5,000,000 strategic investment from QBE Ventures, March 2025

| label62 = Last known valuation | data62 =

| label63 = Lead investors | data63 = Forgepoint Capital (Series A)
QBE Ventures (strategic investment)

| label64 = Capital structure | data64 =

| label65 = Insurer financial strength | data65 =

| label66 = Capacity partner ratings | data66 = QBE North America: A.M. Best "A" (May 5, 2023)

| label67 = External ratings | data67 =

| data68 =

Converge's broker page describes QBE as "A++"; QBE's own ratings page lists A.M. Best "A" for U.S. entities as of May 5, 2023. Discrepancy noted as a diligence item.

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The following sections provide further details.

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Corporate and regulatory profile

🏢 Legal structure. Converge Insurance is a cyber-focused managing general agent and program administrator operating under the legal name Converge Inc., doing business as Converge Insurance Service Solutions. The company maintains offices at 26 Broadway, Suite 328, New York, NY 10004, and at 149 New Montgomery Street, Suite 513, San Francisco, CA 94105. Website terms also reference 165 Broadway, 23rd Floor, New York, NY 10006, and specify New York governing law and courts for disputes.

📋 Regulatory posture. Converge operates as an MGA with delegated underwriting authority from capacity providers rather than holding its own carrier license, meaning risk is written on capacity provided by carriers rather than on Converge's own balance sheet. The company holds surplus lines agency and producer licenses consistent with an excess-and-surplus-lines distribution model. Public regulatory data from the Massachusetts Division of Insurance lists Converge Insurance Service Solutions with license number 20031631, original approval dated November 22, 2021, and renewal through November 22, 2026.

📜 Multi-state licensing. The Texas Department of Insurance licensing dataset lists Converge Insurance Service Solutions with a surplus lines agency license expiring June 27, 2027, with an officer/director line referencing Tae Kang. The Louisiana Department of Insurance surplus lines producer listing also includes the entity with an address consistent with company disclosures. The company states it serves across all 50 states.

🔢 Scale indicators. Converge discloses cumulative limits placed into the market exceeding $1 billion and a team of 12 underwriters.

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Leadership and governance

👤 Founder background. Anthony Dagostino founded Converge in 2021 and served as its initial chief executive officer. Press materials described him as "Converge CEO & Founder," and his pre-Converge career included cyber insurance leadership roles at Lockton and Willis Towers Watson. The Series A press release described him as a former entrepreneur-in-residence at Forgepoint Capital who would remain as an advisor following the funding. Dagostino subsequently joined AXA XL as Global Chief Cyber Underwriting Officer for Commercial Lines in September 2023, with executive leadership transitioning to Tom Kang.

🎯 Current executive team. Tom Kang serves as Chief Executive Officer, with prior experience at Allianz, WTW, and The Hartford. Howie Altman was appointed Chief Technology Officer in January 2026 to accelerate the technology roadmap and scale the proprietary platform, bringing prior experience from Bridgewater Associates and Semsee. David Kimmel joined as Chief Financial Officer in May 2025 with financial services leadership experience at JPMorgan and Deutsche Bank and entrepreneurial experience in insurance advisory and cyber analytics.

🛡️ Functional leadership. The senior team includes Ryan Mimmo as Head of Underwriting (formerly at Chubb, Zurich, and Ambridge), Pam Townley as Head of Insurance Product (formerly at AXIS Capital and AIG), John Spiehs as Head of Claims (formerly at AXIS and Swiss Re), Michelle Lopilato as Head of Partnerships (formerly at Hub International, Marsh, and Aon), Aaron Ting as Head of Actuarial (formerly at Munich Re and Sompo International), and Ryan Lecha as Head of Engineering (formerly at Guidewire Software and Cisco).

🏛️ Board composition. Following the Series A round, Forgepoint Capital managing directors Don Dixon and Andrew McClure joined the board, alongside members Tom Kelly and Steve Petrevski.

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Funding and ownership

💰 Converge Insurance confirmed funding rounds, amount raised, and cumulative total, USD

Round	Date	Amount raised	Lead investor	Cumulative funding
Series A	August 1, 2023	$15,000,000	Forgepoint Capital	$15,000,000
Strategic investment	March 3, 2025	$5,000,000	QBE Ventures	$20,000,000
Total		$20,000,000		$20,000,000

💵 Series A. Converge raised $15 million in August 2023 led by Forgepoint Capital, a cybersecurity-focused venture capital firm. The proceeds were positioned to accelerate platform functionality, go-to-market expansion, and insurance capacity expansion, with CEO appointment language included in the announcement.

🤝 Strategic investment. QBE Ventures invested $5 million in March 2025, bringing total disclosed funding to $20 million. The capital was earmarked for enhancing technology infrastructure, optimizing claims processes, and expanding underwriting capabilities to serve companies with up to $1 billion in revenue.

📊 Investor profile. Forgepoint Capital focuses on cybersecurity venture investment, while QBE Ventures framed its investment rationale around API-first, data-led cyber insurance and scalable underwriting discipline, reflecting strategic alignment with carrier capacity ecosystems and cyber analytics. Specialist press reported CEO commentary indicating potential plans to close a Series B in 2025, though no confirmed close appeared in reviewed sources.

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Products and underwriting

📦 Flagship product. Converge positions ConvergeElements as its flagship cyber insurance policy form, describing it as comprehensive and customizable, with coverage for cyber events including data breaches and ransomware. At launch through the QBE program, ConvergeElements offered primary and excess cyber coverage via select agents and brokers for companies with up to $100 million in revenue.

🔗 ConvergeConnect. The second product track, ConvergeConnect, provides primary cyber coverage through prequalified technology provider partnerships for companies with up to $750 million in revenue. This channel incorporates a "behind-the-firewall" underwriting data access concept, where partner-provided security telemetry informs risk selection.

📈 Appetite expansion. A subsequent capacity agreement with Obsidian Insurance Group extended the underwriting appetite across ConvergeElements, ConvergeConnect, and API products to companies with up to $1 billion in revenue. The company's Open Market website program targets companies with up to $300 million in gross annual revenues and can include Technology E&O or Media Liability coverage on a primary or excess basis.

⚙️ Technology-enabled underwriting. Converge and QBE describe a proprietary technology platform that ingests applications, external system scans, and other data sources alongside underwriting and claims workspaces, portals, and analytics tools to accelerate the underwriting process. The company describes the platform as "AI-powered" and claims ongoing automation expansion across the insurance lifecycle, including underwriting workflow automation and claims servicing.

🔍 Coverage scope. Public sources do not include published policy wordings or coverage schedules. The company references ransomware and cyber extortion coverage at a high level, and notes the inclusion of Technology E&O and Media Liability in certain programs. Converge discloses claim-reporting channels including a dedicated first-notice-of-loss email and an emergency assistance phone number, but does not publicly identify forensic, legal, or notification vendors.

🆕 Product expansion. Beyond core cyber, the company website describes additional lines and modules for Technology and Media coverage, with Professional Liability listed as "Coming Soon," signaling an intent to broaden into adjacent professional lines exposures.

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Cybersecurity and risk services

🛡️ vCISO support. Converge markets direct, unlimited access to expert cyber practitioners as a virtual chief information security officer service bundled with its insurance offerings.

📝 Incident response planning. Policyholders receive a free incident response plan aligned with National Institute of Standards and Technology guidance and fully integrated with the claims process.

🔎 Risk remediation roadmap. The company provides a tailored risk report that includes risk scores applied to coverages, remediation recommendations, vulnerabilities detected through network perimeter monitoring, leaked credentials identified via dark web monitoring, and access to preferred cybersecurity vendor partners.

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Distribution and geographic footprint

🏪 Broker-led model. Broker distribution is central to Converge's go-to-market strategy. The company delivers cyber risk coverage through broker-partners across the United States, and its Obsidian capacity announcement specifically frames the value proposition toward wholesale brokers. QBE's program launch referenced select agents and brokers for ConvergeElements and technology provider partnerships for ConvergeConnect.

💻 API-enabled access. Converge describes API products that give brokers direct access to cyber coverage and claims-management capabilities, consistent with an API-enabled distribution and servicing strategy.

🌎 Geographic scope. All operations are U.S.-based, with nationwide service across 50 states. The company maintains physical offices in New York City and San Francisco, and no non-U.S. market entries appear in reviewed materials.

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Capacity and strategic partnerships

🏦 Primary capacity provider. QBE North America serves as the primary disclosed capacity provider, having launched a cyber insurance program with Converge as MGA and program administrator. Converge's broker page describes QBE as its "A++" rated primary capacity provider; however, QBE's own ratings page lists the A.M. Best rating for U.S. entities as "A" as of May 5, 2023, creating a noted discrepancy.

🏗️ Additional capacity. Converge secured underwriting capacity from Obsidian Insurance Group, supported by a panel of reinsurers, extending coverage across ConvergeElements, ConvergeConnect, and API products and enabling the expansion to companies with up to $1 billion in revenue.

📊 Analytics partner. CyberCube's Portfolio Manager platform, Single Point of Failure Intelligence module, and Attritional Loss Model were integrated into Converge's proprietary technology ecosystem to enhance underwriting capabilities.

🔐 Cybersecurity ecosystem. SolCyber announced a partnership with Converge to redefine cyber insurance for the mid-market segment, supporting a security-provider distribution and service ecosystem around the MGA's insurance offerings.

🔗 AXA connection. The sole identified AXA link is the talent flow associated with founder Anthony Dagostino, who joined AXA XL after departing Converge. No evidence of capacity, reinsurance, or equity investment from AXA entities (including AXA Venture Partners and Kamet) appeared in reviewed materials.

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Competitive positioning

🎯 Market positioning. Within the cyber insurtech MGA ecosystem, Converge positions itself as a data-led MGA with underwriting-first talent and embedded cyber services, using a hybrid distribution model that combines wholesale broker distribution, technology partner channels, and API access.

📡 Data advantage. Converge and its partners emphasize the ingestion of external scans and insured- or partner-provided security telemetry — particularly "behind-the-firewall" data sourced through ConvergeConnect partnerships — to improve risk selection and pricing precision.

🔒 Distribution lock-in. The ConvergeConnect construct, which embeds technology-provider partnerships that supply underwriting data access, combined with API product integrations, suggests elevated switching costs for participants with deep data-sharing and workflow integrations in place.

🏢 Talent strategy. Leadership recruitment draws from established carriers, brokers, and reinsurers including Chubb, Zurich, AXIS Capital, AIG, Swiss Re, Munich Re, Marsh, and Aon, reinforcing an underwriting-first organizational identity.

📐 Peer context. Converge operates alongside a broad peer set of cyber insurtech MGAs and underwriting agencies including At-Bay, Coalition, Corvus Insurance, Cowbell, Resilience, Baobab Insurance, BOXX Insurance, Cogitanda, Elpha Secure, Emergence Insurance, Evolve MGA, Eye Security, Measured Analytics and Insurance, Onda, Stoïk, and others.

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Risk factors

⚠️ Capacity dependency. Converge relies on QBE North America as its primary capacity provider, augmented by Obsidian and a reinsurer panel. Multi-party capacity structures are not fully disclosed, and renewal terms represent a key watch item for business continuity.

📑 Regulatory compliance. Surplus lines and producer agency listings across multiple state jurisdictions create ongoing compliance obligations. Maintaining licenses, appointments, and surplus lines filing procedures is operationally material for sustained market access.

🌐 Systemic cyber risk. Converge employs portfolio analytics and risk modeling tools, including CyberCube integrations, to manage aggregation risk. The efficacy of accumulation management cannot be independently validated from public disclosures.

🔧 Services execution. The value proposition of embedded vCISO support, NIST-aligned incident response plans, and risk remediation roadmaps depends on service delivery quality and scalability, neither of which is externally benchmarkable from available sources.

💸 Profitability trajectory. The CTO appointment announcement explicitly emphasized scaling the platform "to support profitability," implying profitability remains an active strategic priority rather than an achieved state.

👤 Key-person concentration. The founder-linked transition from Dagostino to the Kang-led executive structure demonstrates organizational maturity but also highlights key-person concentration typical of early-stage MGAs.

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Strategy and outlook

🧭 Strategic pillars. Converge communicates three central strategic priorities: an underwriting-first, adversary-focused approach built on a proprietary data ecosystem; API-first distribution and data-led underwriting capabilities; and expansion of capacity and appetite to the $1 billion revenue segment paired with claims-process optimization investment.

🚀 Growth trajectory. The company has progressively expanded its underwriting appetite from an initial $100 million revenue ceiling at launch through $750 million via ConvergeConnect to $1 billion following the Obsidian capacity agreement and QBE Ventures strategic investment.

📅 SOC 2 compliance. Converge achieved SOC 2 Type I compliance by December 31, 2025, representing a point-in-time attestation over the design of its internal controls.

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Company timeline

📅 Converge Insurance key milestones, 2021–2026

Date	Event
2021	Company founded.
August 16, 2022	SolCyber partnership announced for mid-market cyber insurance.
October 31, 2022	CyberCube partnership announced for portfolio analytics integration.
July 27, 2023	QBE North America cyber program launched with Converge as MGA/program administrator; two-track distribution model disclosed.
August 1, 2023	$15M Series A from Forgepoint Capital; board additions and founder advisory transition disclosed.
September 14, 2023	AXA XL hired Dagostino from Converge as Global Chief Cyber Underwriting Officer.
February 15, 2024	Specialist press reported Dagostino exit and CEO transition to Tom Kang.
February 5, 2025	Underwriting capacity secured from Obsidian Insurance Group; appetite expanded to companies up to $1B in revenue.
March 3, 2025	QBE Ventures made $5M strategic investment tied to expanded appetite and technology/claims investment.
May 20, 2025	David Kimmel appointed Chief Financial Officer.
December 31, 2025	SOC 2 Type I compliance achieved.
January 20, 2026	Howie Altman appointed Chief Technology Officer with profitability-oriented scaling emphasis.

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See also

• Cyber insurtech MGAs and underwriting agencies

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References

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