Insurify

insurtechaggregators / policy management

FOUNDING YEAR: 2013
LOCATION: United States
Last Update: 18/10/2019

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About

Insurify.com is a search engine which allows users to search, compare and buy insurance online. The platform uses robust technology to provide fast, accurate, personalized recommendations, helping users make smart decisions about car insurance coverage, and then enables users to easily bind a policy online.

MEDICI Analysis

Insurify is a search engine that allows users to search, compare and buy insurance online. The platform uses robust technology to provides fast, accurate, personalized recommendations that help users to take smart decisions about car insurance coverage and carrier.

Focus

PRODUCTS & SERVICES

App-based car insurance quotes and recommendation platform for individuals in the US. Insurify is the fastest way to compare car insurance quotes on mobile app.

REVENUE MODEL

The company earns commission fee through their insurance partners.

MAIN CLIENTS

Retail consumers

EXISTING PARTNERSHIPS

Partnered with 30+ insurance companies such as Safeco Insurance

Plymouth Rock

The General Insurance

Metlife

Amica

AIG

Progressive

Esurance

The Hartford

etc

PRIMARY PROBLEM SOLVED

Insurify is fixing the currently fragmented auto insurance industry, by making the shopping experience easier for consumers, and enabling them to compare multiple options at once, via a simple, easy-to-use experience.

INTELLECTUAL PROPERTY

Patent(s) FILED

Traction

VALUATION / MARKET CAP:

$30.67 M in 2017

REVENUE

$1.0M - $4.99M

ACTIVE USERS:

150,000

ACTIVE USERS COMMENT:

Insurify.com has helped over 150,000 users shop for car insurance and get quoted (calendar year to date, through September 1, 2015).

People

FOUNDERS

Snejina Zacharia

Tod Kiryazov

BOARD MEMBERS AND ADVISORS

Mark Rosenblatt

George Kassabgi

Giorgos Zacharia

Joe Orr

Praveen Mandal

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Hearst Ventures

MassMutual Ventures

MTech Capital

Nationwide Ventures

Rationalwave Capital Partners

Viola FinTech

KEY EMPLOYEES:

Snejina Zacharia(CEO)

Gene Shkolnik

Giorgos Zacharia

Momentum

FUNDED

YES

TOTAL FUNDING

$29.6 M

DATE OF LAST FUNDING

Jan 2020

SEED & PRIOR FUNDING

$2 M

SEED CLOSED ON

Jan 2016

FUNDING SERIES

SERIES A  · $23 M  · Jan 2020

OTHERS  · $4.6 M · Mar 2017

LISTED

NO

COMMENT

Venture fund: $4.6 M(March 2017)

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Insurify.com

About

Insurify.com is a search engine which allows users to search, compare and buy insurance online. The platform uses robust technology to provide fast, accurate, personalized recommendations, helping users make smart decisions about car insurance coverage, and then enables users to easily bind a policy online.

Focus

PRODUCTS & SERVICES

Car insurance comparison platform. Insurify is the fastest way to compare car insurance quotes on desktop, mobile, or through text messaging.

REVENUE MODEL

The company earns commission fee through their insurance partners.

TOP PROBLEM SOLVED

Insurify is fixing the currently fragmented auto insurance industry, by making the shopping experience easier for consumers, and enabling them to compare multiple options at once, via a simple, easy-to-use experience.

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

KEY DIFFERENTIATORS

Most comprehensive online comparison experience in the industry. Most carriers integrated. Largest network of agents integrated with any comparison platform. Ease of user experience. Transparency of platform. Bidding platform for carriers and agencies. Artificial intelligence and natural language processing to optimize quoting experience.

PRIMARY CUSTOMER TYPE

Consumer

Traction

ANNUAL REVENUE:

$1.0M - $4.99M

ACTIVE USERS/ACCOUNTS:

150,000 Million

ACTIVE USERS COMMENT:

Insurify.com has helped over 150,000 users shop for car insurance and get quoted (calendar year to date, through September 1, 2015).

LIVE USERS/TRANSACTIONS:

Yes, in live production

How will you grow the number of users/accounts/transactions?

Continued growth in paid and organic marketing.

CHANNEL STATUS

MULTIPLE CHANNELS

People

NUMBER OF EMPLOYEES

11-50

TEAM COMMENT:

-

BOARD MEMBERS AND ADVISORS:

George Kassabgi, Praveen Mandal, Mark Rosenblatt, Giorgos Zacharia

INVESTORS:

Rationalwave Capital Partners

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES
Seed
Jan 2016
USD3 M
at a USD0.00valuation
Comment on Seed
Led by Rationalwave Capital Partners and super angels.