THIS IS BIG.
Since founding Broker Buddha, I’ve been convinced it will transform an outdated way of doing business in the insurance industry.
Turns out I’m not crazy.
Not only is our client roster growing rapidly—we now count major insurance firms like Brown & Brown and AssuredPartners as Broker Buddha clients—we’re announcing a $4.5 million funding round, led by Vertex Ventures to accelerate our growth.
So why does someone like Vertex Ventures believe in the potential of Broker Buddha? I’ll let Vertex Partner Sandeep Bhadra explain:
Broker Buddha’s product provides a crisp, modern interface between brokers and their clients, and also records this data in a structured format with potential hook-ups to insurance carriers, driving massive efficiency gains for the client, broker and underwriter.
I think Sandeep is right about all of that. You can read his full blog post here.
I also know that every client using our platform discovers that, “…significant industry change…” translates into something even more meaningful for them, e.g. “significant operational improvement.”
Our user-friendly interactive smart forms, our eSignature capability, and most importantly, the agency-branded online experience we deliver to clients—it all helps agents spend as much as 80% less time on applications and renewals. It makes clients happy, too, and happy clients are a lot more likely to make referrals...which is every agency’s life blood.
The resources this funding provides will allow us to further expand our team and improve Broker Buddha. We’ll also be adding great new features, integrating with carriers and management systems, hiring more people, and ramping up our marketing efforts.
Of course, no matter what we do, our focus won’t change. We’re in this to make the application and renewal process far easier and much less time-consuming for agents.
Keep it simple.
Monday, September 16, 2019