Broker Buddha, a company that simplifies the commercial insurance application and renewal process, announced a $4.5 million funding round led by Vertex Ventures.
Broker Buddha’s technology converts PDF insurance applications into user-friendly interactive smart forms. It also offers a web interface and eSignature capability. The platform can be branded by agencies for their commercial clients’ use.
“The product transforms an outdated way of doing business that has long been frustrating and slow-moving for brokers and their clients,” said Broker Buddha CEO Jason Keck. “It frees up valuable time so agents can focus on what they love doing — taking care of their clients.”
The systems allows new customers to complete applications online through the agency website, while letting returning clients update forms pre-filled with the prior year’s information. Customers can then sign forms electronically online.
The platform then highlights year-over-year changes for brokers.
The company said the new capital will help the company expand its offering and its marketing efforts.
Based in New York City, Broker Buddha is part of Interplay, a venture capital firm.
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