Construction software company launches brokerage

Procore Technologies Inc., a construction management software company based in Carpinteria, California, said Tuesday it has launched a brokerage.

Procore Risk Advisors places all lines of property/casualty coverage for general contractors, owners, subcontractors and public agencies.

It also has an in-house managing general underwriter that provides builder’s risk coverage backed by Allianz SE and Swiss Re Ltd.

The brokerage aims to help policyholders secure more favorable terms by leveraging data insights on construction projects from Procore’s technology platform.