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Pay vs Performance Disclosure
Unit_pure in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table
PAY VERSUS PERFORMANCE
In accordance with rules adopted by the Securities and Exchange Commission pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive compensation for our principal executive officer (“PEO”) and
Non-PEO
NEOs and Company performance for the fiscal years listed below.
 
Year
  
Summary
Compensation
Table Total for
PEO
1
($)
    
Compensation
Actually Paid to
PEO
1, 2, 3
($)
    
Average
Summary
Compensation
Table Total
for
Non-PEO

NEOs
1
($)
    
Average
Compensation
Actually Paid to
Non-PEO

NEOs
1,2,3
($)
    
Value of Initial

Fixed $100

Investment based

on:
4
    
Net Income
($ Millions)
    
Revenue

($ Millions)
5
  
 
TSR ($)
    
Peer
Group
TSR ($)
  
2025
     5,997,265       6,233,558       1,922,882       1,984,258       221.18       191.86       62.6      
468.6
  
2024
     2,849,375       6,549,271       1,648,884       3,155,913       196.84       189.95       (28.6 )      372.1  
2023
     2,660,000       2,025,520       1,860,875       1,367,181       67.06       132.60       (263.0 )      209.7  
 
1.
Richard McCathron was our PEO for each year presented. The individuals comprising the
Non-PEO
NEOs for each year presented are listed below.
 
2023
   
2024
   
2025
Stewart Ellis    Torben Ostergaard    Guy Zeltser
Yuval Harry    Stewart Ellis    Michael Stienstra
   Yuval Harry    Torben Ostergaard
      Stewart Ellis
 
2.
The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation
S-K
and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below.
 
3.
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the
Non-PEO
NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the totals from the Stock Awards column set forth in the Summary Compensation Table.
 
Year
   
Summary
Compensation
Table Total
for PEO ($)
     
Exclusion of
Stock
Awards for
PEO ($)
     
Inclusion
of Equity
Values for
PEO ($)
     
Compensation
Actually Paid
to PEO ($)
  
2025
      5,997,265        (4,767,265 )       5,003,558        6,233,558  
2024
      2,849,375        (1,756,250 )       5,456,146        6,549,271  
2023
      2,660,000        (1,850,000 )       1,215,520        2,025,520  
 
Year
   
Average
Summary
Compensation
Table Total
for
Non-PEO

NEOs ($)
     
Average
Exclusion of
Stock
Awards for
Non-PEO

NEOs ($)
     
Average
Inclusion
of Equity
Values for
Non-PEO

NEOs ($)
     
Average
Compensation
Actually Paid
to
Non-PEO

NEOs ($)
  
2025
      1,922,882        (1,037,518 )       1,098,894        1,984,258  
2024
      1,648,884        (812,467 )       2,319,496        3,155,913  
2023
      1,860,875        (1,202,500 )       708,806        1,367,181  
 
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
 
Year
   
Year-End
Fair
Value of Equity
Awards Granted
During Year
That Remained
Unvested as
of Last Day of
Year for PEO ($)
     
Change in
Fair Value
from Last
Day of Prior
Year to Last
Day of Year
of Unvested
Equity
Awards for
PEO ($)
    
Vesting-Date

Fair Value of
Equity
Awards
Granted
During Year
that Vested
During Year
for PEO ($)
     
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting Date
of Unvested
Equity
Awards that
Vested
During Year
for PEO ($)
     
Fair Value at
Last Day of
Prior Year of
Equity
Awards
Forfeited
During Year
for PEO ($)
     
Total-
Inclusion
of

Equity
Values for
PEO ($)
  
2025
      3,873,225        (6,616 )      892,510        244,439        —         5,003,558  
2024
      2,091,406        1,301,608       995,000        1,068,132        —         5,456,146  
2023
      570,000        (258,406 )      469,000        434,926        —         1,215,520  
 
Year
   
Average
Year-End

Fair Value of
Equity
Awards
Granted
During Year
That
Remained
Unvested as
of Last Day of
Year for Non-

PEO NEOs ($)
     
Average
Change in
Fair Value
from Last
Day of Prior
Year to Last
Day of Year
of Unvested
Equity
Awards for
Non-PEO

NEOs ($)
    
Average
Vesting-Date

Fair Value of
Equity
Awards
Granted
During Year
that Vested
During Year
for Non-PEO

NEOs ($)
     
Average
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting Date
of Unvested
Equity
Awards that
Vested
During Year
for Non-PEO

NEOs ($)
     
Average Fair
Value at Last
Day of Prior
Year of
Equity
Awards
Forfeited
During Year
for
Non-PEO

NEOs ($)
     
Total-

Average
Inclusion of

Equity
Values for
Non-PEO

NEOs ($)
  
2025
      761,092        (49,698 )      287,814        99,686        —         1,098,894  
2024
      1,003,875        359,334       477,601        478,686        —         2,319,496  
2023
      370,500        (165,896 )      304,851        199,351        —         708,806  
 
4.
The Peer Group TSR set forth in this table utilizes Hudson Structured Capital Management Ltd Public InsurTech Index (the “HSCM Public InsurTech Index”), which we also utilize in the stock performance graph required by Item 201(e) of Regulation
S-K
included in our Annual Report for the year ended December 31, 2025. The comparison assumes $100 was invested for the period starting December 31, 2022, through the end of the listed year in the Company and in the HSCM Public InsurTech Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.
 
5.
We determined revenue to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and
Non-PEO
NEOs in 2025.
   
Company Selected Measure Name Revenue    
Named Executive Officers, Footnote
1.
Richard McCathron was our PEO for each year presented. The individuals comprising the
Non-PEO
NEOs for each year presented are listed below.
 
2023
   
2024
   
2025
Stewart Ellis    Torben Ostergaard    Guy Zeltser
Yuval Harry    Stewart Ellis    Michael Stienstra
   Yuval Harry    Torben Ostergaard
      Stewart Ellis
    
Peer Group Issuers, Footnote The Peer Group TSR set forth in this table utilizes Hudson Structured Capital Management Ltd Public InsurTech Index (the “HSCM Public InsurTech Index”), which we also utilize in the stock performance graph required by Item 201(e) of Regulation
S-K
included in our Annual Report for the year ended December 31, 2025. The comparison assumes $100 was invested for the period starting December 31, 2022, through the end of the listed year in the Company and in the HSCM Public InsurTech Index, respectively. Historical stock performance is not necessarily indicative of future stock performance. 		   
PEO Total Compensation Amount $ 5,997,265 $ 2,849,375 $ 2,660,000
PEO Actually Paid Compensation Amount $ 6,233,558 6,549,271 2,025,520
Adjustment To PEO Compensation, Footnote
3.
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the
Non-PEO
NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the totals from the Stock Awards column set forth in the Summary Compensation Table.
Year
   
Summary
Compensation
Table Total
for PEO ($)
     
Exclusion of
Stock
Awards for
PEO ($)
     
Inclusion
of Equity
Values for
PEO ($)
     
Compensation
Actually Paid
to PEO ($)
  
2025
      5,997,265        (4,767,265 )       5,003,558        6,233,558  
2024
      2,849,375        (1,756,250 )       5,456,146        6,549,271  
2023
      2,660,000        (1,850,000 )       1,215,520        2,025,520  
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
 
Year
   
Year-End
Fair
Value of Equity
Awards Granted
During Year
That Remained
Unvested as
of Last Day of
Year for PEO ($)
     
Change in
Fair Value
from Last
Day of Prior
Year to Last
Day of Year
of Unvested
Equity
Awards for
PEO ($)
    
Vesting-Date

Fair Value of
Equity
Awards
Granted
During Year
that Vested
During Year
for PEO ($)
     
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting Date
of Unvested
Equity
Awards that
Vested
During Year
for PEO ($)
     
Fair Value at
Last Day of
Prior Year of
Equity
Awards
Forfeited
During Year
for PEO ($)
     
Total-
Inclusion
of

Equity
Values for
PEO ($)
  
2025
      3,873,225        (6,616 )      892,510        244,439        —         5,003,558  
2024
      2,091,406        1,301,608       995,000        1,068,132        —         5,456,146  
2023
      570,000        (258,406 )      469,000        434,926        —         1,215,520  
    
Non-PEO NEO Average Total Compensation Amount $ 1,922,882 1,648,884 1,860,875
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,984,258 3,155,913 1,367,181
Adjustment to Non-PEO NEO Compensation Footnote
3.
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the
Non-PEO
NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the totals from the Stock Awards column set forth in the Summary Compensation Table.
Year
   
Average
Summary
Compensation
Table Total
for
Non-PEO

NEOs ($)
     
Average
Exclusion of
Stock
Awards for
Non-PEO

NEOs ($)
     
Average
Inclusion
of Equity
Values for
Non-PEO

NEOs ($)
     
Average
Compensation
Actually Paid
to
Non-PEO

NEOs ($)
  
2025
      1,922,882        (1,037,518 )       1,098,894        1,984,258  
2024
      1,648,884        (812,467 )       2,319,496        3,155,913  
2023
      1,860,875        (1,202,500 )       708,806        1,367,181  
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
Year
   
Average
Year-End

Fair Value of
Equity
Awards
Granted
During Year
That
Remained
Unvested as
of Last Day of
Year for Non-

PEO NEOs ($)
     
Average
Change in
Fair Value
from Last
Day of Prior
Year to Last
Day of Year
of Unvested
Equity
Awards for
Non-PEO

NEOs ($)
    
Average
Vesting-Date

Fair Value of
Equity
Awards
Granted
During Year
that Vested
During Year
for Non-PEO

NEOs ($)
     
Average
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting Date
of Unvested
Equity
Awards that
Vested
During Year
for Non-PEO

NEOs ($)
     
Average Fair
Value at Last
Day of Prior
Year of
Equity
Awards
Forfeited
During Year
for
Non-PEO

NEOs ($)
     
Total-

Average
Inclusion of

Equity
Values for
Non-PEO

NEOs ($)
  
2025
      761,092        (49,698 )      287,814        99,686        —         1,098,894  
2024
      1,003,875        359,334       477,601        478,686        —         2,319,496  
2023
      370,500        (165,896 )      304,851        199,351        —         708,806  
    
Compensation Actually Paid vs. Total Shareholder Return
Relationship Between PEO and
Non-PEO
NEO Compensation Actually Paid and Total Shareholder Return (“TSR”)
The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our
Non-PEO
NEOs, the cumulative TSR over the three most recently completed fiscal years for the Company, and the HSCM Public InsurTech Index TSR over the same period.
 
LOGO
   
Compensation Actually Paid vs. Net Income
Relationship Between PEO and
Non-PEO
NEO Compensation Actually Paid and Net Income
The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our
Non-PEO
NEOs, and our net income during the three most recently completed fiscal years.
 
LOGO
   
Compensation Actually Paid vs. Company Selected Measure
Relationship Between PEO and
Non-PEO
NEO Compensation Actually Paid and Revenue
The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our
Non-PEO
NEOs, and our Revenue during the three most recently completed fiscal years.
 
LOGO
   
Total Shareholder Return Vs Peer Group
Relationship Between PEO and
Non-PEO
NEO Compensation Actually Paid and Total Shareholder Return (“TSR”)
The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our
Non-PEO
NEOs, the cumulative TSR over the three most recently completed fiscal years for the Company, and the HSCM Public InsurTech Index TSR over the same period.
 
LOGO
   
Total Shareholder Return Amount $ 221.18 196.84 67.06
Peer Group Total Shareholder Return Amount 191.86 189.95 132.6
Net Income (Loss) $ 62,600,000 $ (28,600,000) $ (263,000,000)
Company Selected Measure Amount 468.6 372.1 209.7
PEO Name Richard McCathron    
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (4,767,265) $ (1,756,250) $ (1,850,000)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 3,873,225 2,091,406 570,000
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (6,616) 1,301,608 (258,406)
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 892,510 995,000 469,000
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 244,439 1,068,132 434,926
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
PEO | Inclusion of Equity [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 5,003,558 5,456,146 1,215,520
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (1,037,518) (812,467) (1,202,500)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 761,092 1,003,875 370,500
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (49,698) 359,334 (165,896)
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 287,814 477,601 304,851
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 99,686 478,686 199,351
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
Non-PEO NEO | Inclusion of Equity [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 1,098,894 $ 2,319,496 $ 708,806