Full-Time

Counsel – Legal & Compliance

Posted on 12/16/2024

Boost Insurance

Boost Insurance

11-50 employees

API-driven platform for customizable insurance solutions

Fintech
Financial Services

Compensation Overview

$105k - $135kAnnually

Junior, Mid

New York, NY, USA

Category
Legal
Risk & Compliance
Legal & Compliance
Requirements
  • J.D. (Juris Doctor) degree from an accredited law school.
  • Admission to, and good standing with, at least one U.S. state bar.
  • 2-5 years of relevant experience, including familiarity with insurance and claims handling.
  • Strong research, writing, and verbal communication skills.
  • Exceptional attention to detail and ability to manage multiple tasks simultaneously.
  • Ability to work independently and collaboratively in cross-functional teams.
  • Proactive, solution-oriented mindset with a commitment to professional growth.
Responsibilities
  • Master Boost’s insurance coverage – Become the go-to expert on our policies, understanding every detail to ensure optimal coverage across all lines.
  • Lead the charge on policy interpretation and analysis – Provide expert guidance on claims trends, coverage insights, and complex insurance laws to steer the organization’s strategy.
  • Shape underwriting guidelines – Contribute to evolving underwriting practices, updating guidelines and rates to stay ahead in the industry.
  • Be the bridge between underwriters and the law – Aid underwriters in responding to complex coverage requests with your legal and insurance expertise.
  • Stay ahead of legal trends – Keep underwriters and the team informed about judicial and legislative developments impacting insurance coverage.
  • Collaborate with TPA partners – Manage relationships with third-party administrators across a variety of exciting areas like cyber liability, pet insurance, lawyers’ professional liability, and D&O liability.
  • Drive accurate claims and coverage determinations – Ensure claims are processed on time, with precision, and in full compliance with Boost’s standards.
  • Review and approve key coverage decisions – Make high-stakes decisions by reviewing coverage determinations, correspondence, and authority requests from TPAs.
  • Be the compliance watchdog – Monitor insurance laws across multiple jurisdictions, ensuring Boost stays ahead of evolving regulatory requirements.
  • Navigate the regulatory landscape – Conduct cutting-edge legal research on new insurance products and services, ensuring compliance with federal, state, and international laws.
  • Engage with regulators – Prepare responses to state insurance departments regarding filed policies and endorsements, ensuring we stay compliant and proactive.
  • Support company compliance – Assist the legal team with insurance licensing, regulatory reporting, and compliance filings.
  • Negotiate like a pro – Draft, review, and negotiate contracts with external partners, vendors, and service providers to ensure we’re always a step ahead.
  • Provide actionable legal guidance – Be the go-to resource for legal and regulatory advice for internal teams, helping them navigate challenges with confidence.
  • Innovate and improve processes – Play a key role in streamlining our legal processes, improving standard agreements, and supporting the development of company policies.
  • Shape the company’s compliance future – Help develop and implement robust compliance policies and procedures that keep Boost at the forefront of the industry.
  • Tackle ad-hoc challenges – Step up to resolve legal and compliance issues as they arise, making sure the business continues to run smoothly and in full compliance.

Boost Insurance offers a customizable platform that allows businesses to integrate insurance products into their digital environments. This API-driven platform simplifies the process of creating and managing insurance programs, making it faster and more cost-effective. Businesses such as e-commerce platforms and cryptocurrency exchanges can use Boost's services to provide tailored insurance solutions directly to their customers at the point of sale. Unlike traditional insurance providers, Boost focuses on flexibility and ease of integration, enabling companies to enhance customer value and engagement. The goal of Boost Insurance is to democratize access to insurance by equipping innovators with the necessary tools to create modern insurance products, ultimately improving customer satisfaction and driving growth for its clients.

Company Stage

Series B

Total Funding

$49.6M

Headquarters

New York City, New York

Founded

2017

Growth & Insights
Headcount

6 month growth

-12%

1 year growth

-14%

2 year growth

-20%
Simplify Jobs

Simplify's Take

What believers are saying

  • Embedded insurance is gaining traction, aligning with Boost's API-driven approach.
  • Boost's Crypto Shield caters to the growing demand for cryptocurrency insurance.
  • Insurtech sector investment is rising, benefiting innovative solutions like Boost's.

What critics are saying

  • Increased competition from platforms like CoverWallet could impact Boost's market share.
  • Potential conflicts with Breach Insurance's Crypto Shield may arise if not managed.
  • Market cannibalization risks exist with partners offering similar products.

What makes Boost Insurance unique

  • Boost offers a turnkey white-labeled insurance solution via API integration.
  • Boost's platform supports the entire insurance lifecycle, enhancing customer experience.
  • Boost serves diverse clients, including e-commerce and cryptocurrency platforms, with tailored solutions.

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Benefits

Medical, dental, & vision insurance

FSA medical reimbursement account

Unlimited PTO

Paid parental leave

401(k) retirement savings program

Monthly work from home snack reimbursement

Monthly pet insurance/pet wellness plan reimbursement

Monthly company lunches

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