Unveils Homeowners Insurance Carrier based in South Carolina, Licensed in 17 states
BOSTON, MA / ACCESSWIRE / July 25, 2022 / Openly, the premium homeowners insurance platform, formerly operating solely as a MGA, today announced the launch of the Openly Insurance Company, an insurance carrier licensed in 17 states. Only weeks after announcing its $75M Series C funding round, Openly continues to expand its presence in the insurance industry and offer its premium, transparent and comprehensive coverage options to more agents and homeowners.
"We believe strongly in our product and processes," said Ty Harris, CEO and co-founder of Openly, "and the reception by the independent agent and customer community has been phenomenal. Becoming a carrier was the natural next step and allows us to demonstrate our confidence to all of our stakeholders-by putting our money where our mouth is, if you will."
Openly plans to use the new carrier as one part of a balanced and prudent risk capacity strategy. For example, in the coming months, the Openly Insurance Company, acquired as a carrier shell and rebranded by Openly, will begin issuing policies directly in select states while continuing to rely on risk partners in other states. Openly sells insurance exclusively through independent agents, empowering them to offer quotes in as quick as 15 seconds using its proprietary technology.
Rob Higgins, Chief Product and Strategy Officer for Openly adds, "Today's launch is a significant milestone as we continue our mission of delivering transparent and comprehensive homeowners insurance to customers and supporting independent agents with our technology."
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Openly is a tech-forward insurance carrier, offering comprehensive coverage to consumers through independent agents in 19 states and growing. Dedicated to delivering a tech-enabled insurance experience to independent agents, Openly is focused on bringing transparency to a traditionally opaque industry by utilizing new data sources coupled with insurance expertise. For more information, visit Openly.com or https://www.linkedin.com/company/openlyllc/.
Caliber Corporate Advisers for Openly