Trivora Insurance, a technology-advanced managed general agency (MGA) specializing in cyber insurance and related risks for small and medium-sized enterprises (SMEs), announced a growth investment led by New York-based private investment firm Carroll Street Capital.
The new capital will be used to support Trivora’s specialty business expansion, cyber and related risk product innovation, and continued growth in its broker-focused underwriting business.
Trivora prioritizes critical broker and underwriter relationships and views continued advancements in data analytics as fundamental to its operations.
The company leverages advanced technology to streamline the process from submission to binding, delivering transparent, data-driven pricing while maintaining essential personal interactions with channel partners.
By automating complex operations behind the scenes, Trivora enables its teams to focus on what matters most: judgment, relationships, and helping clients navigate complex business risk environments.
“We set out to build a multi-line MGA that acts like a technology company and thinks like an insurance company,” said Farhan Shah, founder and CEO of Trivora Insurance. “Our success in the market has deepened our belief in the way we work with our broker partners: delivering partnerships powered by knowledgeable underwriters they trust and enhanced by technology that makes the experience faster and more transparent. Carroll Street and Trivora Aligned in this vision, we are excited to collaborate and deliver a best-in-class modern MGA experience to the market.”
The company said Carroll Street was attracted to Trivora’s deep technical capabilities, strong industry relationships, proven track record and the exceptional early execution of its world-class team.
Caloras, founder and managing partner of Carroll Street, commented: “Farhan has built a highly capable team that has executed exceptionally well to deliver on its vision for a modern, technology-led MGA that deftly balances the evolving needs of brokers, clients and carrier partners.
“We believe cyber and related risk products are increasingly important to the evolution of the commercial insurance suite for small and medium-sized businesses, and Trivora is uniquely positioned to become an industry leader in commercial risk pricing, management and innovation in the coming years. We are excited to partner with Farhan and the Trivora team.”
As part of the investment, Jay Caloras will join Trivora’s board of directors along with Farhan Shah, John Soughan and Sabby Ray.
“At Trivora, technology is not a product, it is an enabler,” added Shah. “Our goal is to help brokers deliver the best terms, pricing and capabilities to their insureds with greater speed and confidence, while retaining the relationships and expertise that make this industry work.”
