ProSight sells specialized property and casualty insurance to seven niches like film production, real estate, and construction—think a bespoke tailor for risky industries.
Money comes from underwriting premiums across those segments; 2020 revenue was USD 0.80B with a razor-thin net margin of 2.76%, so it's a low-margin, recurring premium business.
Specialized underwriting knowledge in niches like media and marine creates some stickiness, but larger carriers like Chubb and AIG can replicate coverage, and margins are eroding (net margin fell from 6.95% in 2018 to 2.76% in 2020).
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OKX is listing $PROS on its X-Perps platform in Europe, making it available in Simple Mode. This expansion into European markets is the primary focus.
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