Oyster sold its insurance brokerage business to The McGowan Companies. Existing policyholders still access their insurance through the digital portal, but Oyster itself has shifted from acting as a brokerage to operating exclusively as an AI infrastructure provider for the insurance industry, rolling out its domain-specific AI system named Cara.

What Oyster does: Oyster is listed in the embedded insurance directory as a provider for its listed insurance focus includes Embedded Insurance, the company was founded in 2018, its listed headquarters are in New York, NY. Its profile identifies the insurance categories and platform contexts that prospective partners should review when assessing fit. This information is intended to make early research easier, not to replace diligence. Buyers should confirm current products, licensing responsibilities, carrier relationships, implementation requirements, data requirements, pricing, geographic availability, claims handling, policy servicing, renewal workflows, and support arrangements directly with the company before making a selection. Teams comparing providers should also clarify who owns the customer relationship, which party handles compliance and disclosures, how the program can scale, and what happens if the platform changes its insurance strategy.