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About QuoteWell
Industries
Enterprise Software
Fintech
Company Size
11-50
Company Stage
Series A
Total Funding
$15M
Headquarters
Austin, Texas
Founded
2021
Overview
Quotewell streamlines the commercial insurance submission process for independent agents by providing a platform that simplifies and automates tasks. The platform combines various questions into a single form application, allowing for quick and secure data transfers to multiple insurance carriers. This integration helps agents focus on more important activities, like growing their business, rather than getting bogged down in paperwork. Quotewell differentiates itself from competitors by collaborating with local independent agencies to tailor its solutions to their specific workflows. The company operates on a subscription-based model, generating revenue from fees paid by agents and brokers who use the platform, with the goal of increasing efficiency and productivity in the commercial insurance market.
Simplify's Take
What believers are saying
- Increased adoption of AI tools enhances QuoteWell's insurance submission efficiency.
- The rise of API-based solutions aligns with QuoteWell's real-time quoting capabilities.
- Growing demand for digital-first solutions benefits QuoteWell's comprehensive platform.
What critics are saying
- Competition from other insurtech startups could erode QuoteWell's market share.
- Dependence on third-party providers like Herald poses potential partnership risks.
- Regulatory scrutiny on AI-driven platforms may lead to compliance challenges.
What makes QuoteWell unique
- QuoteWell integrates multiple carrier options into a single interface for agents.
- The platform offers real-time quoting and binding through its partnership with Herald.
- QuoteWell's AI-backed technology enhances submission and marketing processes for brokers.
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Funding
Total Funding
$15M
Meets
Industry Average
Funded Over
1 Rounds
New Enterprise AssociatesIndustry standards
Benefits
Competitive salaries + equity in the company
Medical, dental, & vision
FSA and HSA options
Unlimited vacation policy
Paid membership to One Medical
Company-sponsored 401K plan (Roth & Traditional)
Paid parental leave
Family forming benefits & reimbursements through Carrot
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↓ -4%2 year growth
↑ 5%QuoteWell partners with Independent Insurance Agents of Texas.
QuoteWell <i class="fa fa-info-circle company-popover" data-content="h3QuoteWell/h3. div. table
Stewart Risk partnered with QuoteWell to utilize a modern platform that allows agents to access more markets and experience quicker response times and carrier transparency.
QuoteWell, an Austin, TX-based tech-enabled commercial insurance wholesale brokerage, raised over $15M in Series A funding.The round was led by NEA with participation from Goldcrest and Floating Point. The company intends to use the funds to expand its team and enhance the infrastructure for automation and operational efficiencies.Led by Joey Bouchard, CEO and Founder, QuoteWell is a tech-enabled commercial insurance wholesale brokerage, which utilizes AI-backed technology in its submission and marketing processes, empowering in-house brokers to efficiently find and place the risk while delivering a responsive and transparent experience for retail agents. To date, the company has hired 12 licensed brokers to support submission flow and uses AI-backed models to assist in coverage recommendations from its panel of over 45 carrier partners. FinSMEs24/10/2023
In the lead-up to today's public launch, QuoteWell, founded in 2021, has secured over $15 million in Series A funding led by New Enterprise Associates, Inc. (NEA).
QuoteWell is Hiring for 8 Jobs on Simplify!
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About QuoteWell
Industries
Enterprise Software
Fintech
Company Size
11-50
Company Stage
Series A
Total Funding
$15M
Headquarters
Austin, Texas
Founded
2021
QuoteWell is Hiring for 8 Jobs on Simplify!
Find jobs on Simplify and start your career today