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The momentum continues to construct for Brazenly, the premium owners insurance coverage supplier, as right now it introduced a 96% buyer satisfaction ranking for agent and policyholder service interactions, a 79% buyer satisfaction ranking for claims, and 80% progress in gross written premium YoY in 2023. These statistics are a direct results of Brazenly’s continued dedication to create a greater owners insurance coverage expertise for unbiased brokers and policyholders alike.
“2023 has been an incredible 12 months for Brazenly throughout a number of sides of our enterprise, together with the expansion of our award-winning staff, and continued success in our work with unbiased brokers,” stated Ty Harris, CEO and Co-Founder of Openly. “As we proceed to develop, Brazenly’s emphasis will all the time be positioned on offering a wonderful work setting for our workers and creating a greater insurance coverage expertise for each unbiased brokers and their prospects. Thanks to everybody that has made 2023 such a profitable 12 months, and we’re excited to see what 2024 has to supply.”
Brazenly’s Collection D Funding Amidst a Difficult Enterprise Capital Market
In September, Brazenly introduced it had raised $100M in its Collection D funding spherical, led by Eden World Companions, with further participation from a mixture of present and new buyers. This comes as funding for insurtechs had been down 50% YoY when trying on the first half of 2023.
Inaugural State of the Impartial Agent Survey
2023 additionally marked the inaugural 12 months for Brazenly’s State of the Impartial Agent Survey, launched in October. Brazenly surveyed greater than 1,600 unbiased owners insurance coverage brokers to find out and share the important thing threats to the unbiased agent channel, and the way the business is pushing again towards these threats.
The survey discovered that half of the respondents famous local weather change as a key risk to their enterprise shifting ahead, along with considerations round firms exiting markets, and direct-to-consumer suppliers. To counter these considerations, unbiased brokers famous three areas of focus: investing in expertise, expertise capabilities, and advertising and marketing.
Enlargement of Partnership Community
All year long, Brazenly introduced new partnerships with key business gamers throughout insurance coverage. In March, Brazenly introduced a partnership with Artigem, the main technology-enabled contents and jewellery service supplier to the Property & Casualty (P&C) insurance coverage business, and in Might, Brazenly joined Trellis‘ Savvy platform, the main embedded insurance coverage answer for monetary establishments, fintechs, and different client companies.
Launch of API Integrations
Brazenly continued to put money into enhancements to learn the unbiased company channel in 2023, together with the launch of a market-leading API for real-time quoting directly within agency systems. The agency API integrations provide a more seamless experience for different types of agency operating models that seek coverage for clients with Openly.
“As more agencies begin to leverage sophisticated software into their operations, Openly’s Agency API creates a streamlined mechanism for these agencies to interact directly with Openly,” said Matt Wielbut, CTO and Co-Founder of Openly.
Openly Recognized in Multiple Workplace and Industry Awards
Finally, Openly was recognized across six industry awards over the course of the year. In March, Openly was included on Forbes’ 2023 America’s Best Startup Employers, ranking 320th, and followed this up in May with inclusion on Inc.’s Best Workplaces, which recognizes companies that have excelled in creating exceptional workplaces and company culture.
Most recently, Openly was awarded three Comparably awards, highlighting the strong company culture:
- Openly ranked 37th in Comparably’s 2023 Best Company Cultures list for Small/Medium-sized Companies
- Openly was ranked 34th in 2023’s Best Companies for Women list under Small/Medium-sized Companies
- Ty Harris ranked 74th on the list of 2023’s Best Company CEOs for Small/Medium-sized Companies
In November, Openly was also named to Quartz Best Companies for Remote Workers list, marking the second year in a row that Openly was named to this honor. Individuals in Openly’s team also received recognition, with CEO Ty Harris being named as a finalist in Ernst & Young’s Entrepreneur of the Year 2023 New England and John Woodworth, Complex Claims Adjuster at Openly, being named Outstanding Claims Professional by the Property & Liability Resource Bureau.
To learn more about how Openly is creating a more efficient and transparent homeowners insurance experience, visit www.openly.com.
About Openly
Openly is a remote-first 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. In 2023, Openly was named a Forbes America’s Best Startup Employer and Inc. Best Workplace.
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