View this article online: https://www.insurancejournal.com/services/newswire/2020/05/27/569256.htm
Boston, MA, MAY 27, 2020— Openly Insurance, a tech-forward company that specializes in premium homeowners insurance and is backed by powerhouse investors such as Gradient Ventures, Google’s AI investment fund, is growing quickly and entering more states across the US. Openly’s insurance product is unique in the industry and provides homeowners with more comprehensive coverage that uses modern technology and advanced pricing models.
Openly differentiates itself in many ways including their modern quoting platform, abundant use of data, comprehensive products, sophisticated pricing, and agency experience. Openly provides agents to produce accurate insurance quotes for their customers in less than 20 seconds so they can spend more time with their customers discussing coverage and options. Openly is currently available in Arizona, Illinois, Pennsylvania, Tennessee and Kentucky and plans to enter Massachusetts, Indiana, Ohio, Georgia, and South Carolina in the coming months.
Openly’s CEO and cofounder, Ty Harris, said “The feedback we hear from agency owners is overwhelmingly positive because they see first-hand the value in our product and technology. Now more than ever, consumers need to save money and evaluate their insurance needs to ensure they’re adequately covered and receiving the most competitive rates.”
Openly has created a repeatable and efficient process for getting its homeowners program implemented across the US. It typically takes months to deploy a new program to a new state, but the team at Openly has achieved this in less than one month per state. They have streamlined and automated traditionally manual parts of the filing process, found ways to proactively address potential Department of Insurance questions, and made the product and contract more customer friendly.
Jeffrey Gallo, owner of Jefferson Avenue Insurance in PA shared, “Many insurtech providers have approached our business with a tech first, insurance second mentality. The space is filled with players who are knowledgeable in technology but have under-estimated the business of insurance. Openly is a breath of fresh air because it approaches our business with a true understanding of how to underwrite and appropriately price risk, while utilizing tech to help get there.”
Based in Boston, the Openly team is actively growing their teams across technology, product, and operations roles. The growth of the team will facilitate entering additional states, enhance the current homeowners product, and begin to build a complimentary auto product.
About Openly
Based in Boston, Openly is a tech-enabled home insurance provider designed to empower rather than replace independent agents. The company was founded in 2017 by Ty Harris and Matt Wielbut and is backed by Gradient Ventures, Google’s AI-focused venture fund, Greenlight Re, PJC, and Techstars Ventures, in addition to other investors and partners. For more information, visit https://openly.com.
Media Contact:
Press@openly.com