US: Simplifya to launch Risk Mitigation Alliance

Simplifya has teamed up with insurance carriers and brokers servicing the cannabis sector to launch the Risk Mitigation Alliance (“RMA”), which is designed to help cannabis businesses more affordably manage their compliance needs and protect their licenses.

The new offering brings qualifying cannabis operators working with participating RMA insurance carriers and/or brokers to receive 70% off the cost of Simplifya’s core suite of operational and regulatory compliance solutions – paid for by participating RMA insurance carriers and brokers. Simplifya customers are also eligible to receive deep discounts on insurance premiums from RMA carriers and/or brokers at policy renewal or during new policy signup. Cannabis operators who subscribe to Simplifya and work with RMA partner insurance carriers and/or brokers are now eligible for one or more of the following benefits:

• Majority of Simplifya Services Paid For: Licensed cannabis operators who work with RMA participating insurance brokers and/or carriers are eligible to have 70% of the cost of Simplifya’s compliance solutions paid by partner carriers and brokers.

• Preferred Pricing on Insurance Premiums: Simplifya customers are eligible for deep discounts on insurance premiums from partner carriers at policy renewal or during new policy signup.

“Under RMA, eligible cannabis operators can easily opt-in and take advantage of best-in-class insurance coverage and services with partner carriers and brokers,” said Simplifya CEO and Cofounder Marion Mariathasan. “They can also access industry-leading compliance tool Simplifya services as well as have the majority of the cost paid for, which will help businesses stay compliant and up-to-date with ever-changing state regulations – a crucial step in ensuring financial strength and consumer safety. With the Federal Reserve stilted in its ability to lower interest rates and ongoing inflationary pressures, RMA also relieves some of the financial burdens facing cannabis businesses. In every industry, business owners often view insurance companies as the enemy. RMA is a perfect example of how insurance companies serving the cannabis industry are committed to taking care of their customers and offering financial relief.”

“Having worked closely with Simplifya for more than two years, we are excited to team up to help businesses mitigate risk while delivering relief and added value to the cannabis sector,” said CannGen Insurance Chief Marketing Officer Charles Pyfrom. “As one of the leading insurance managing general agents in cannabis, we recognize the depth of risk mitigation Simplifya brings to our customers. The importance of a streamlined approach to compliance and protecting your assets like licenses cannot be overstated during a downturn market. As we move forward, we will continue to look for ways to help our clients strategically minimize risk.”

“SafeHerb and Simplifya’s partnership is a prime example of how collaboration can effectively mitigate risks in the cannabis industry,” said SafeHerb Vice President Kramer Hendricks. “By leveraging our respective strengths and expertise, we are able to provide a safer and more compliant cannabis experience for consumers and businesses alike. Together, we are breaking barriers and paving the way for a more secure and sustainable cannabis industry.”