Bishop Street Underwriters Partners with Kalepa to Power the Next Generation of Top Performing MGAs

New York, NY – October 17, 2024 – Insurtech leader Kalepa announced today that Bishop Street Underwriters, a multi-boutique insurance platform owned by RedBird Capital Partners, has selected Kalepa’s AI underwriting Copilot software to power their ecosystem of MGAs.

Bishop Street, which most recently acquired Conifer Insurance Services, is building a connected growth platform for diversified MGAs supported by cutting-edge technology, proprietary capacity partnerships, and shared capabilities. Kalepa’s Copilot will help them make more best-in-class underwriting decisions to deliver on growth, risk selection, and portfolio strategy goals. 

“We set out to build Bishop Street into a differentiated platform, and we see Kalepa as a foundational partner in achieving that vision,” said Chris Klimek, COO of Bishop Street Underwriters. “Copilot’s ability to empower underwriters across risk classes and coverages provides the versatility we need as we continue to bring new programs under the Bishop Street umbrella.”

“We conducted a rigorous evaluation of underwriting software solutions, and Copilot didn't just check the boxes—it redefined what we thought was possible,” said Chad Weber, President of Bishop Street. “One of our key priorities is providing underwriters with cutting-edge technology that delivers real impact and helps them develop a more robust understanding of risk, as well as achieve ambitious profitability and growth targets. With Copilot, they are getting the very best-in-class.”

“Our team invested in Bishop Street to help realize their vision of data-driven, diversified, and profitable underwriting at scale, and the partnership with Kalepa aligns perfectly with this mission,” said Mike Zabik, Partner of RedBird Capital. “At RedBird, we have a deep commitment to driving value creation through the use of technology, AI and data science, and our in-house RedBird AI team is excited to embed Kalepa’s Copilot across Bishop Street and leverage its ability to move the needle on underwriting outcomes.”

“The Kalepa team is excited to partner with Bishop Street Underwriters to deliver the foundational underwriting platform that will power their strategic and day-to-day decision,” said Danny Hillman, Co-founder and COO of Kalepa. “Thanks to our day-one deployments and industry-defining AI, Copilot has become the solution of choice for many commercial and specialty insurers. We look forward to supporting Bishop Street in serving entrepreneurs, operators and underwriters who are building enduring insurance franchises, powered by Kalepa’s Copilot."

About Bishop Street

Bishop Street Underwriters, owned by RedBird Capital Partners, seeks to partner with Managing General Agents (“MGAs”) as well as niche underwriting teams. Bishop Street aims to combine their best-in-class (re)insurance executive team’s vision with RedBird’s strong track record, expertise, and network in the financial services sector to build a differentiated platform that is uniquely positioned to capitalize on secular growth tailwinds in the industry. For more information, please go to www.bishopstreetuw.com.

About RedBird Capital Partners

RedBird Capital Partners is a private investment firm that builds high-growth companies with strategic capital solutions to founders and entrepreneurs. The firm currently manages $10 billion in assets on behalf of a global group of blue chip institutional and family office investors. Founded in 2014 by Gerry Cardinale, RedBird integrates sophisticated private equity investing with a hands-on business building mandate that focuses on three core industry verticals – Financial Services, Sports and Media & Entertainment. Over his30-year investment career, Cardinale has partnered with founders and entrepreneurs to build some of the most iconic growth companies in their respective industries. For more information, please go to www.redbirdcap.com.

About Kalepa

Founded in 2018 by technology veterans, Kalepa is dedicated to enhancing underwriting performance and driving profitable premium growth for the commercial insurance industry, enabling insurers to Bind with Confidence. Kalepa's AI Copilot underwriting platform enables underwriters to focus their time on the highest ROI opportunities and to quickly evaluate and optimally select risk. Kalepa was named to the 2022, 2023, and 2024 InsurTech 100 by FinTech Global and is backed by IA Ventures, Inspired Capital, and leaders in technology and financial services. Learn more at www.kalepa.com.

Media Contacts:

BishopStreet

Dan Gagnier

GagnierCommunications

redbird@gagnierfc.com

646.569.5897

Kalepa

Press@kalepa.com

929.352.5372