About Insurify
Insurify is a digital platform that helps individuals and families compare insurance policies. Users can answer a few questions to receive real-time quotes from various insurance providers, making it easier to find the best coverage for their needs. Unlike traditional methods, Insurify allows users to see multiple options at once without hidden fees, potentially saving them up to $717 on annual premiums. The company earns revenue by receiving a commission from insurance providers for each policy sold through its platform, allowing it to offer its services for free. Insurify's team includes experts in personal finance and the insurance industry, ensuring reliable information and guidance for users.
Cambridge, MassachusettsHeadquarters
2013Year Founded
$149.8MTotal Funding
LATE_VCCompany Stage
Fintech, Financial ServicesIndustries
51-200Employees
Benefits
Health Insurance
Dental Insurance
401(k) Company Match
Unlimited Paid Time Off
Paid Family Leave
Generous company holiday calendar
Learning & Development Stipends
Catered lunches in the office
Social impact volunteer time
Stock Options
Risks
Increased competition from new digital insurance platforms like DriveSmart.Auto.
Rising auto insurance costs may deter potential customers.
Dependency on key partners like Santander could be risky if partnerships dissolve.
Differentiation
Insurify uses AI and chatbots for personalized car insurance recommendations.
The platform offers real-time quotes from multiple insurance providers.
Insurify's user-friendly interface simplifies comparing and purchasing insurance.
Upsides
Partnerships with Santander and MassMutual expand Insurify's market reach.
Rising auto insurance premiums increase demand for comparison platforms like Insurify.
AI-driven personalization enhances customer experience and retention.
Funding
Total raised$149.85 M
Latest valuation$500.00 M
StageLATE_VC
LATE VC
4/30/2023$22
$500.00 MSERIES A
12/31/2019$23
$115.00 MEARLY VC
2/28/2017$5
$23.00 MSEED
12/31/2015$2
$10.00 M