Decade-Long Growth of AmTrust

AmTrust Financial Services has successfully served the property and casualty insurance industry since its establishment in 1998, and achieved record growth over the last 10 years. According to President and CEO Barry Zyskind, AmTrust is using “proprietary technology and extensive database of loss history to help appropriately price and structure policies, maintain lower levels of loss, enhance our ability to accurately predict losses and maintain lower claims costs than the industry as a whole.”

The numbers speak for themselves. Between 2005 and 2015, AmTrust increased its commercial lines market share in the U.S. from 0.08% to 1.92%, according to A.M. Best data. This growth has positioned AmTrust as the 11th largest commercial lines writer in the U.S., up from the 128th position in 2005. AmTrust has grown organically and through 40 acquisitions.

Zyskind pointed out that AmTrust realized early on it would be able to differentiate through technology. He explained that, “every application we use from underwriting to claims management, is built internally to maximize our productivity and data mining capabilities. When we acquire a business, we quickly integrate it on our technology platforms. Our digital strategy has absolutely set us apart in a highly competitive industry.”

The firm’s first product offering was warranty program insurance, which continues to have substantial growth.  Barry Zyskind added that “our automotive and powersports vehicle service contract division is a world leader, while our retail and consumer products extended service plan division ranks among the world’s top three.”