PolicyGenius, branded as Policygenius, is an online insurance sale company that was founded in 2014 by two former McKinsey consultants, Jennifer Fitzgerald and Francois de Lame.
PolicyGenius clients have access to advice through the company's insurance quoting platform. The platform provides personalized quotes, as well as side-by-side comparison of insurance policies from insurance providers.
Video PolicyGenius
History
PolicyGenius officially launched in July 2014 by co-founders Jennifer Fitzgerald and Francois de Lame. Leveraging their multi-product platform, consumers are able to review advice, research and compare quotes for life, long-term disability, renters and pet insurance.
As McKinsey consultants, Fitzgerald and de Lame advised insurance companies on growth and marketing. They quickly noticed a pattern: all of the companies struggled with how to engage online with self-directed consumers.
Maps PolicyGenius
Funding
PolicyGenius was part of the FirstGrowth Winter 2013 batch. In July 2014, PolicyGenius announced the completion of a seed round with investors Brendan Wallace, Paul Arnold, Ravi Sarma and Pen King.
The company raised its Series A in June 2015, about a year after graduating FirstGrowth. The $5.3 million round included investments from Karlin Ventures, Susa Ventures, MassMutual Ventures, Transamerica Ventures and AXA Strategic Ventures. The round was aimed to expand marketing efforts and target new channels.
The company raised a $15 million Series B announced on January 14, 2016 from returning investors Karlin Ventures and Susa Ventures, and new investor Revolution Ventures led by Steve Case, former CEO of AOL.
The company raised a $30 million Series C announced on March 24, 2017 from existing investors and new lead investor Norwest Venture Partners.
References
- Insurance for the Agent-Averse Bloomberg Businessweek, August 20, 2015
- Do Millennials Need Life Insurance? Barron's Next, March 21, 2017
- PolicyGenius Compares Insurance Rates, Doesn't Violate Your Privacy Lifehacker, November 6, 2017
External links
- Office Website
Source of the article : Wikipedia
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