Markets/Coverages: High-End Home Insurer Openly Enters Virginia

Home insurer Openly has begun offering its coverage options to independent insurance agents and their policyholders in Virginia.

Already active in 23 states, the upmarket home insurer said it is launching in Virginia with a phased introduction, granting access to additional independent agencies each month.

The insurer touts comprehensive coverage and a digital platform that makes it simple for agents to obtain quotes and add and price coverage for second homes, flood, contents, landlords or other options.

Entrance into Virginia marks the second state rollout of 2024 for Openly, following Connecticut in May.

Boston-based Openly was launched in 2019 as a managing general agency. In 2022 it acquired a carrier shell to begin issuing policies directly in select states while continuing to rely on risk partners in other states. It utilizes MS Transverse Insurance Co. in Virginia, Connecticut, Pennsylvania, and Wisconsin.

Openly sells exclusively through independent agents.

In September. 2023 the Insurtech raised $100 million in funding. A year earlier, it closed on a $75 million investment.

Topics Carriers New Markets Homeowners Virginia