JERICHO, N.Y. — American Global announced that its surety team has been recognized with a 2025 “Collaborator Award” from The Institutes RiskStream Collaborative™, honoring the firm’s contributions to modernizing the surety bond process through industry-wide collaboration and innovation.
The award was presented to American Global’s surety team, led by Head of Surety Krystal Stravato, in recognition of its active involvement in advancing Surety X, a blockchain-powered platform designed to digitize and streamline the surety bond workflow. The recognition places American Global alongside some of the largest surety firms, leading brokers, and national associations contributing to the initiative.
Industry Collaboration Drives Surety Innovation
The Institutes is a global not-for-profit organization comprised of 20 affiliated business units focused on education, professional development, and connectivity across the risk management and insurance sectors. One of those units, the RiskStream Collaborative, develops technology-driven solutions aimed at improving efficiency and transparency across the insurance ecosystem.
"This year’s Collaborator Award recognizes the power of shared effort," said Patrick Schmid, President, The Institutes RiskStream Collaborative. "Our collaborators have contributed expertise, vision, and collaboration that mark an important step toward a more efficient and connected surety industry.”
According to the RiskStream Collaborative, participating organizations played a key role in ensuring Surety X was built with practical, market-ready functionality. The platform was shaped by direct input from surety professionals, helping establish a foundation for a fully digital, paper-free surety experience that aligns with real-world industry needs.
Recognition Highlights American Global’s Leadership Role
Krystal Stravato emphasized the broader significance of the recognition for American Global and the surety sector as a whole.
“This award is a tribute to the dedication of our team. As one of American Global’s core values, this honor confirms our commitment to collaboration, and our history of working together—not only within our firm, but across other organizations—to help move the surety industry forward. We appreciate RiskStream’s partnership and we value the opportunity to contribute knowledge, leadership and expertise to initiatives that support positive change."
American Global said the recognition reflects its continued investment in innovation and collaboration across the construction and infrastructure insurance markets, particularly as the surety industry continues its transition toward digital-first processes.
Additional information on RiskStream Collaborative initiatives and awards is available through the organization’s official channels.
Originally reported by American Global in Construction Dive.
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