– BROOKLYN-BASED COMPANY OFFERS AN ONLINE DESTINATION TO RESEARCH, COMPARE AND BUY INSURANCE
NEW YORK–(BUSINESS WIRE)–June 15, 2015–
AXA Strategic Ventures announced today its first investment in a U.S. company – PolicyGenius. Founded in July 2014, PolicyGenius offers an online platform for consumers to review coverage and confidently research and compare quotes for term life, long-term disability, renters and pet insurance.
“We launched AXA Strategic Ventures to invest in companies that drive innovation in our industry, making it more digitally-enabled and transparent,” said Manish Agarwal, General Partner of AXA Strategic Ventures. “PolicyGenius perfectly reflects this investment profile. The company’s tailored Insurance Checkup™ and customer-friendly quote comparisons make shopping for and purchasing insurance straightforward and accessible to a growing client population.”
“We’re excited to work with AXA Strategic Ventures and our other investors to capitalize on our growth and bring the insurance industry into the 21st Century,” said Jennifer Fitzgerald, CEO of PolicyGenius. “This financing will enable us to accelerate PolicyGenius’ growth by strengthening its existing product lines, refining individual insurance quoting engines and scaling its marketing and production teams.”
About AXA Strategic Ventures
Launched in February 2015, AXA Strategic Ventures is a €200 million venture capital fund dedicated to emerging strategic innovations in financial services. AXA Strategic Ventures invests in start-ups via seed funding and also provides venture capital for more established companies. The fund currently has seven offices: San Francisco, New York, London, Paris, Zurich, Berlin and Hong Kong.
PolicyGenius, based in Brooklyn, NY, was founded in 2014 by two former McKinsey consultants who saw a gap in the insurance industry and dedicated themselves to shifting the industry online and into the hands of the consumer. Through its highly tailored Insurance Checkup™, users can discover their coverage gaps and review solutions for their exact needs. The company provides the only place online to shop for life, long-term disability, renters and pet insurance through its highly accurate quoting engines that offer side-by-side comparisons of tailored policies. For more information visit www.policygenius.com
AXA Strategic Ventures:
Discretion Winter, 212-314-2968
Josh Passman, 212-279-3115 x203
Andrea Collins, 415-309-4220