Merchants Receives 2024 Innovator Award

January 28, 2025

Groundbreaking innovation and contributions to the insurance industry have earned Merchants Bonding Company The Institutes RiskStream Collaborative’s 2024 Innovator Award. As a founding member of the Surety DIGIT Coalition, formed to advance the digitization of the surety bond process, Merchants has demonstrated exceptional leadership to benefit clients and the industry as a whole.

This award celebrates innovation across 17 organizations in the insurance industry. Merchants’ Chief Information Officer, Brad Rasmussen, stated, “Our efforts to advancing the evolution of the surety industry are steadfast. The digitization initiatives we’ve championed are a testament to our commitment to creating solutions that drive efficiency and provide tangible benefits for our clients.”

Merchants Bonding Company’s active membership in the RiskStream Collaborative has enabled collaboration with other companies to identify innovative solutions for common challenges within the surety industry.

The Institutes is a not-for-profit organization supporting the insurance industry by providing education, certification programs, and collaborative opportunities. Through the RiskStream Collaborative, they foster an ecosystem for companies to work together, exploring emerging technologies and their applications to enhance the industry and improve customer experiences.

This recognition highlights Merchants Bonding Company’s ongoing commitment to driving progress in the surety industry through collaboration and technological innovation.