Layr offers a cloud-based platform and services that modernize the complex, manual workflows of small-business insurance for independent brokerages. Its tools let brokers serve up to six times more small-business clients by digitizing paperwork, eliminating manual invoices and checks, and automating carrier integrations and workflows. Policyholders access a white-labeled, secure online portal to shop for or renew coverage, file claims, generate documents, and pay bills 24×7. The platform includes a broker-facing analytics dashboard that surfaces insights and trends to improve operations and margins. Layr plans to use new financing to expand go-to-market operations and bolster platform functionality for brokers. The company positions its product as a way to move broker small-business units into higher-margin territory while improving policyholder experience. Layr is an Atlanta, GA-based insurtech company that uses AI and machine learning to help brokerages and agencies manage small commercial insurance books. Its AI-powered cloud platform digitizes the insurance process by enabling brokers to sell, service, and renew policies through a private-labeled service center. Proprietary algorithms quote pricing while simultaneously shopping pre-written packages to underwriters without broker touch or APIs, and placed policies allow end-clients to self-service and access proof of insurance from broker-branded portals. Layr currently supports P&C agencies and brokerages across all 50 states and helps sell and service tens of millions of dollars of premium across their books. The company plans to double its team, grow its presence among insurance agents and brokers, add technology advancements, and expand offerings to provide tailored solutions to agencies of all sizes. Led by founder and CEO Phillip Naples, Layr intends to release new features and partner with technology providers to better support independent brokers. Layr operates a cloud insurance platform that automates sourcing, purchasing and managing small commercial insurance using AI and machine learning. The company provides tailored policy recommendations and coverage limits and partners with carriers and traditional brokers to distribute policies. Since launching its platform in 2018, Layr has placed more than $2B of aggregate coverage limits across thousands of policies. Layr plans to use new funding to expand AI/ML capabilities for the next version of its platform, including intelligent recommendations and a streamlined application process. The company was co-founded in 2016 by Phillip Naples and Andrew Egenes and was incubated in the first cohort of Lloyd’s Lab.

Total raised

$25M

Funding rounds

3

Latest round

Equity

Latest activity

Nov 2023