MORRISTOWN, N.J., Dec. 6, 2016 /PRNewswire/ -- ProSight Specialty® Insurance, a New Jersey-based provider of targeted, niche insurance offerings, was recognized by New Jersey's leading business journal, NJBIZ, as one of the 50 fastest growing companies in the state for the third year in a row. ProSight and other Fast 50 winners were celebrated at NJBIZ's annual award ceremony, which took place Nov. 10, 2016, at The Palace at Somerset Park in Somerset, NJ. ProSight Chief Legal Officer Frank Papalia accepted the award on behalf of the company and was accompanied by Chief Financial Officer Anthony Piszel.
"ProSight is consistently striving to shake up an industry that has offered the same approach to insurance for more than a hundred years, and we're so pleased to see our vision and hard work acknowledged as a positive contributor to New Jersey's economic growth and stability," said Joe Beneducci, ProSight chairman, president and CEO. "This is the third year in a row we've been honored by NJBIZ as a top-growing company in the state and we hope to continue bolstering the state's economy for years to come."
ProSight accepted sixth place honors for the NJBIZ Fast 50 Award ceremony out of 50 local companies that were selected as honorees. To qualify, companies had to meet selection criteria that indicated revenue increase over a three-year period dating back from fiscal year 2013 to 2015. The top 50 companies were then asked to provide additional context on strategies and tactics that were key to their companies' growth, external factors impacting growth, and so forth.
ProSight was founded with the explicit purpose of introducing innovation to the commercial property and casualty insurance market. Since the company was founded in 2009, it has looked to bring additional value to the insurance market by offering tailored solutions to a wide range of industries, including construction, transportation, media and entertainment, marine and energy, consumer services, professional services and real estate. Some unique programs developed by ProSight include Music Mends℠, which is designed to support touring artists who wish to help mend communities following an act of terrorism through music; commercial drone insurance, created to protect companies leveraging the latest drone technologies; and SecureFleet℠, a comprehensive insurance solution for truck fleets that includes video safety, telematics, driver engagement and drug testing.
ProSight Specialty Insurance was founded by industry veteran CEO Joe Beneducci, with the explicit purpose of introducing innovation to the commercial property and casualty insurance market. ProSight designs solutions that help solve customers' problems, so each solution is targeted to enhance customers' operating performance. ProSight focuses on select niche industries, deploying differentiated underwriting and claims expertise, and then works exclusively with specialized distributors to deliver value. ProSight is fueled by a cultural desire to succeed at uncommon challenges, making the business performance of its customers a top priority. The underwriting members of the ProSight Specialty Insurance (ProSight) group of companies are rated "A" (Excellent) by A.M. Best. ProSight also operates Syndicate 1110 at Lloyd's of London, which is rated "A+" (Strong) by Standard & Poor's. Based in Morristown, NJ, ProSight has regional offices in Los Angeles, CA, Santa Rosa, CA, New York, NY, and London, England. More information about ProSight and its member insurers can be found at https://prosightspecialty.com/. Follow us @ProSightCorp and ProSight Specialty Insurance.
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SOURCE ProSight Specialty Insurance