Participated · Series D · Jan 2020

Policygenius is an online insurance marketplace that enables users to discover coverage gaps and compare tailored policies through its Insurance Checkup™ and proprietary quoting engines. Founded in 2014 and based in Brooklyn, New York, the company has built integrations with major carriers and proprietary technology for quoting, underwriting, and fulfillment. It focuses on life, disability, home, and auto insurance and has invested in exclusive, integrated no-exam life offerings to address COVID-related medical exam impacts and improve the customer experience. Policygenius also offers Policygenius Pro and continues expanding its core businesses. In 2021 the company wrote $40 billion of new life insurance coverage, nearly 70% more than in 2019, and its home and auto new written premiums grew more than 6x from 2019 to 2021. Policygenius is on pace to be the single largest distribution platform for term life insurance this year. Policygenius provides a digital experience that guides consumers through the entire insurance buying process for multiple product lines, including life, home, auto, disability and renters. The company has built integrations with major insurance carriers and technology for quoting, underwriting and fulfillment to streamline purchase flow. In 2019 it launched a new property and casualty offering that scaled to more than $10 million in revenue in less than 12 months. Policygenius plans to use new funding for hiring and to unveil broader consumer financial protection products in 2020. The company was co-founded in 2014 by Jennifer Fitzgerald and Francois de Lame and operates from New York City and Durham, North Carolina. Its platform emphasizes carrier integrations and end-to-end digital underwriting and fulfillment. PolicyGenius has built an online marketplace and quoting engine that lets consumers answer questions, compare multiple insurance carriers and view side-by-side policy options. It began with life insurance and expanded to health, renters, long-term disability and pet insurance, and it also offers an "insurance checkup" tool to identify coverage gaps. The company reports that since its $15 million financing in January 2016 it has grown monthly revenues 7x and doubled its employee base. With the new financing it plans to expand into property and casualty policies and deepen partnerships with carrier partners. PolicyGenius has raised $52 million in venture funding to date. Co-founder and CEO Jennifer Fitzgerald said the company selected Norwest for its work with strong consumer-facing brands. PolicyGenius is a Brooklyn-based online insurance brokerage offering content, advice, online quotes and an application process for life, long-term disability, renters, and pet insurance. The company emphasizes its content and an insurance checkup tool as core product features. PolicyGenius had reached 800,000 users by the end of 2015. It operates as a broker and charges insurers a commission for each policy it places. CEO Jennifer Fitzgerald declined to disclose how many users became policyholders, so conversion and revenue figures were not provided. Fitzgerald said the company could in future white-label insurance products from carriers and sell them under its own brand. PolicyGenius operates a multi-product consumer insurance advice and shopping platform offering life, long-term disability, renters and pet insurance comparisons. Launched in July 2014 by Jennifer Fitzgerald and Francois de Lame, the company guides users through an Insurance Checkup™ — a five-minute Q&A that produces a personalized review of insurance needs. The platform combines expert content, partnerships and affiliate channels to expand accessibility and reach. PolicyGenius plans to strengthen existing product lines and refine individual insurance quoting engines. The company will scale its marketing and production teams in its Brooklyn offices and use strategic investor insight to quickly test and iterate new tools and services. The business recently completed a Series A financing to support these initiatives.

Led · Equity · Oct 2019

Quantemplate offers a self-service, cloud-based platform that automates data ingestion, preparation and validation for (re)insurers using machine learning to create real-time access to data. Led by CEO David Lundgren, the platform is designed to empower decision-making, enable growth, identify new market opportunities and reduce costs. The company recently announced general availability of its platform following increased demand for licensing and implementation from global U.S. and European firms. Approximately 20 large and mid-size customers are already licensing the platform. Quantemplate closed on more than $12M in a recent funding round and plans to use the proceeds to expand its global sales and marketing efforts. The product positioning targets data-driven (re)insurance sectors seeking automated, self-service data solutions. QuanTemplate provides a cloud platform that enables wholesale insurers and reinsurers to analyze and communicate insurance information between parties. The platform lets underwriters and brokers conduct operational activities online, including importing rich internal datasets and building sophisticated models for analytics. Founded by Adrian Rands and based in Gibraltar, the company targets the wholesale insurance and reinsurance industry. It secured a seed funding round, though the amount was undisclosed. Backers included Anthemis Group alongside existing investors. QuanTemplate plans to use the funds to expand its product offering and grow its customer base.

Participated · Seed · Feb 2019

Nivaura provides a workflow management and process automation platform focused on primary issuance processes in capital markets, using blockchain to enable legally enforceable financial instruments. Its modular technology services automate and compliantly manage the full lifecycle for issuance and administration of debt, equity and structured products. The company targets deployment of digital investment-banking platforms for banks, exchanges and other financial institutions. Founded in London in 2016 and led by CEO Dr. Avtar Sehra, Nivaura plans to use the new capital to expand leadership, business development and technical teams to accelerate growth. It intends to enter new jurisdictions and to cover new asset classes. The company also added senior hires in conjunction with the round, strengthening legal, strategic and commercial expertise.

Participated · Series C · Jan 2019

Limelight Health delivers a cloud-based, configurable microservices platform for quoting, rating, proposal generation, renewals, underwriting, enrollment support, reporting, agent self-service and document management for carriers, underwriters, agents and advisors. The platform automates pre-sales, new business processing and integrates with industry systems and services. The company plans product development to add more automation, enhanced workflows, an underwriter certification program and risk scores derived from datasets to improve underwriting. Limelight also supports consumer delivery and agent self-service capabilities and offers configurable modules for varied business needs. It operates from San Francisco with satellite locations in Redding, California and Des Moines, Iowa and maintains a remote workforce. The company will use new funding for customer acquisition, global expansion and hiring. Limelight Health provides a real-time, automated platform that streamlines quoting, sales, enrollment and renewals for the employee benefits industry. Its first product, QuotePad, enables on-demand health plan rate data and price quotes, auto-generates custom sales proposals, and supports electronic enrollments and decision support. The company's API integration connects into popular online CRM and employee benefits platforms, including Salesforce, Microsoft Dynamic, Bernie Portal, California Choice and EaseCentral. Limelight licenses its software to insurance carriers, PEOs, payroll companies, brokers, general agents and enrollment exchanges. QuotePad is currently available in California, Colorado, New York, New Jersey, Illinois and Texas, with planned real-time quoting and enrollment availability in Maryland, Virginia, Pennsylvania, Oregon, Utah, Rhode Island and the District of Columbia starting September 1, 2017. The company has offices in San Francisco and Redding, California and intends to use new funds to accelerate growth and expand its software platform. Limelight Health is a San Francisco–based provider of mobile enterprise technology for the health insurance industry. Its core product, QuotePad, is a cloud-based, data-driven mobile quoting and modeling platform that enables brokers, carrier sales representatives and underwriters to quote and compare employee health insurance benefits in real time. The platform offers real-time analytical functionality, interactive plan cost modeling, import/export of plan and contribution selections, and an API/open integration with CRM, benefits administration, payroll and accounting systems. The company plans to use the new funding to grow its sales and engineering teams, deliver product enhancements to its SaaS platform and expand distribution nationally. Limelight Health was founded in February 2014 by CEO Jason T. Andrew.

Led · Series C · Apr 2018

Glitterbug Technologies Pvt. Ltd owns and operates Coverfox, an online insurance platform. The company's core product is the Coverfox digital insurance platform. Glitterbug raised $22 million in a Series C funding round. The round was led by the International Finance Corp. (IFC), the investment arm of the World Bank Group. Existing investor Transamerica participated as a returning backer.