CORE INSURANCE, INSURANCE TECHNOLOGY
PRnewswire | May 10, 2023
Confie, the largest personal lines insurance distribution company in the U.S., announces the acquisition of Estrella Insurance to its non-standard national brand Freeway Insurance. Confie's latest acquisition significantly expands its footprint in Florida and their franchise division.
Estrella Insurance operates more than 190 locations across Florida, California, Arizona, Texas, and Colorado. For over 40 years, they have provided affordable insurance solutions and exceptional service to their customers. Their product portfolio includes auto, home, commercial, business, life, and health. Estrella will continue to operate under its current brand, and Confie will retain all current employees with their acquisition.
"Estrella has built a strong franchising model well-known among Hispanic consumers, and business owners alike. We are excited to welcome them into our ever-growing family," said Cesar Soriano, Confie CEO. "Franchising allows us to broaden our customer reach, and accelerate our growth into new markets. Americans are entrepreneurial by nature and we proudly will offer them the choice between three trustworthy brands."
In 2022, Freeway Insurance introduced franchising opportunities to entrepreneurs. With more than 530 retail stores nationwide, business owners get access to the company's established business model, respected brand, a wide range of national and regional insurance carriers, and back-office resources. Shortly after, Confie acquired Velox Insurance in December 2021. Velox primarily offers franchising to business owners in the Georgia market.
"Our franchise partners are family, and their success is our success. It was important to find the right partner that would support both our brand, customers, and our growth plan," said Nick Estrella Jr., Estrella's CEO. "Confie is a highly respected organization with years of industry knowledge and forward momentum. It was a perfect fit for Estrella."
In addition to its acquisitions, Confie recently announced the expansion of its business process outsourcing division (BPO) with the launch of a new service center in Tijuana, being ranked #1 Personal Lines Leader by Insurance Journal for a seventh straight year and the expansion of their InsureOne brand by way of an agency network for independent insurance agents.
"Confie's expansion plans rely on strategic acquisitions and we welcome that challenge," said Chad Maxwell, SVP, mergers & acquisitions, Confie. "Identifying places where we can strengthen our presence helps us accomplish growth and development, and we are actively seeking great partners to join the Confie family."
Established in 2008, Confie is the nation's leading personal lines insurance distribution company. Today, Confie meets customers wherever they are – with more than 750+ retail locations in 23 states, the Bluefire general agency, and a telephone and online shared service center servicing all 50 states. With flexible insurance options, outstanding value, and convenient service, Confie's aspiration is to be the most trusted source of insurance solutions so our customers can have peace of mind. Confie is a portfolio company of Alliant. For more information about Confie, visit www.confie.com.
About Freeway Insurance
Established in 1987, Freeway offers insurance policies via a "click, call, or come-in" approach that provides customers coverage throughout the United States. The company is constantly researching, growing and diversifying product offerings to stay responsive to the ever-evolving insurance market. Freeway offers a wide range of plans, from the most basic to premium plans, in auto, truck, commercial vehicle, fire, flood, homeowners, renters, small commercial, motorcycle, and recreational vehicle insurance products. In 2008, Freeway Insurance joined Confie, the leading national personal lines insurance distribution company. Today, Freeway Insurance services customers in more than 500 offices. Freeway consumers access Freeway Insurance through neighborhood Freeway offices, as well as by visiting www.freewayinsurance.com or by calling (800) 777-5620.
About Estrella Insurance
Miami-based Estrella Insurance is a property and casualty insurance franchisor and a trusted leader among consumers and insurance companies by providing simple, cost-effective insurance solutions across its auto, home, commercial, business, life, and health insurance portfolios. With more than 190 offices across the U.S., it is consistently ranked as a top franchise opportunity with a proven business model that allows owners to focus directly on customer support and community engagement. For more information about Estrella Insurance, visit www.estrellainsurance.com.
CORE INSURANCE, COMPLIANCE
PRnewswire | April 21, 2023
BrokerTech Ventures (BTV), the industry's first broker-led convening platform and accelerator program, today announced the addition of its newest industry-leading insurance wholesaler partner, Jencap Group.
"We could not be more pleased to announce the addition of Jencap to our wholesaler community network. We view our carrier and wholesale partners as integral in terms of our overall strategy in building out BrokerTech Ventures — and specifically, our Innovation Tower," said Dan Keough, Holmes Murphy chairman and CEO and co-CEO of BTV. "Insurance companies are individually spending multi-millions of dollars each year in innovation, and we believe that BTV can be the convening platform to provide access into the unknowns, idea-sharing, investing, and distribution for the benefit of all."
The addition of these renowned insurance brands brings the BTV industry portfolio to 13 of the most sizable and innovative brokerage firms in North America and 16 of the most notable and respected insurance companies and wholesalers with both domestic and international presence.
"Jencap is committed to employing innovative technology solutions that improve our speed to market, operational efficiencies, data analytics, and the overall platform experience of our partners," said John LaCava, Jencap's Chief Operational Officer. "We look forward to collaborating with BTV members and insurtech companies to maintain our position in the marketplace as industry leaders."
In addition to its expansive broker and carrier partner portfolio, BTV now also represents 60 insurtech startups from around the world, inclusive of those in the U.S., Israeli, and Latin American accelerator programs, with investments and commercial engagements with many.
About BrokerTech Ventures
Based in the insurance nucleus of Des Moines, Iowa, BrokerTech Ventures (BTV) is the first broker-led convening platform and accelerator program focused on delivering innovation to the insurance broker industry. Founded in 2019, BTV provides a venue for the best minds in insurance and technology to collaborate and bring to market leading-edge ideas and solutions. BTV invests in the research and testing for each of the chosen startups, provides access to veteran industry mentors, and helps scale the technology to market through broker distribution channels.
About Jencap Group
Jencap is one of the largest wholesalers in the U.S. with notable industry-leading expertise in wholesale brokerage, binding authority, and program management. Its specialized divisions and affiliate organizations provide niche underwriting prowess, broad market access, and nationwide influence. Headquartered in New York, Jencap leverages its collective power to exceed the expectations of more than 20,000 independent agency partners.
LIFE INSURANCE, INSURANCE TECHNOLOGY
Accesswire | May 08, 2023
Openly, the premium homeowners insurance provider, and Trellis - the technology company simplifying distribution of personal lines of insurance - announced a new partnership. Operating as an independent agent, Trellis will offer Openly's premium insurance to clients through its Savvy platform - the leading embedded insurance solution for financial institutions, fintechs, and other consumer businesses.
Openly joins an increasing number of home insurance carriers and providers leveraging Savvy to acquire profitable, long-term customer relationships with high efficiency and to pinpoint selectivity through a combination of market-leading technologies and proprietary partnerships. Savvy's partners comprise leading financial institutions, fintechs, and other distribution partners with sought-after audiences in trusted, branded contexts. For partners, Savvy simplifies insurance as a one-stop shop with "crawl, walk, run" integration options, end-to-end digital and offline customer journeys, and flexible compensation structures. For consumers, Savvy simplifies insurance by using machine learning to tailor insurance offers to meet clients' needs and by enabling users to transparently compare their existing policies side-by-side with new quotes using just their insurance login.
The partnership provides Savvy users with access to Openly's premium, straightforward home insurance. Openly provides premium insurance by delivering comprehensive coverage through independent agents.
"Trellis and Openly both offer market-leading technology - and share the mission of making insurance as simple as possible," said Ty Harris, CEO of Openly. "Our team is excited to partner with Trellis to deliver our premium home insurance through the Savvy platform."
"Since launching our digital homeowners insurance experience last year, we've curated an amazing panel of carriers to serve Savvy's national user base," said Daniel Demetri, CEO of Trellis. "We're excited to work with Openly to distribute their innovative, tech-driven products in the contexts and platforms where consumers are thinking about their finances every day."
Openly is a premium homeowners insurance provider. Its centralized platform offers comprehensive coverage, market-leading technology, and exceptional service. Founded by industry veterans in 2017, Openly is dedicated to delivering modern and transparent homeowners insurance and empowering independent agents across America.
Trellis provides best-in-class, secure, digital solutions that help consumers get the most value from their insurance. The company makes it easier and safer for insurers and non-insurers to acquire and delight customers with streamlined, personalized experiences, offers, and services. Investors in Trellis include QED Investors, General Catalyst, NYCA Partners, and Amex Ventures.