Business Insight: A Look at Policygenius

By Durham Chamber of Commerce / Published 07.09.20
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Policygenius is the nation’s leading online insurance marketplace, with headquarters in New York City and, as of 2019, Durham, North Carolina. This insurtech pioneer has helped more than 30 million people shop for all types of insurance from the comfort of their own homes — online — and have placed over $60 billion in coverage. Since launching in 2014, Policygenius has received several accolades, including being named to Forbes list of Best Startup Employers (2020), Crain’s Fast 50 (2019) and Inc. Magazine’s Best Workplaces (2018, 2019, 2020).

 

In Q4 2019, Policygenius announced that its Durham headquarters will be 555 Mangum and began an aggressive hiring campaign to fill at least 377 jobs over the next five years. Policygenius recently announced its first executive hire at the North Carolina headquarters — Google veteran Erik Garr will oversee Policygenius property and casualty operations.

 

Policygenius is one of the largest term life insurance brokers in the United States. It is the leading destination for online comparison and buying of all types of insurance, including life, home, auto and disability insurance.

 

This has been a big year so far for Policygenius. To start the year, the insurtech company announced $100 million Series D funding led by global investment firm KKR. In June, Policygenius announced its exclusive collaboration with Brighthouse Financial, Inc. to launch Brighthouse SimplySelectSM, a new term life insurance product available online through Policygenius with guaranteed coverage for 10, 20, or 30 years, giving consumers a choice in planning how to provide for loved ones should the unexpected happen. Brighthouse SimplySelect features a fast and simple purchase process that doesn’t require invasive testing, allowing an underwriting decision within 24 hours for most applicants.

 

“We know it’s important for families to get the financial protection they need,” Jennifer Fitzgerald, CEO and co-founder of Policygenius, said. “We are excited for this relationship with Brighthouse Financial to launch Brighthouse SimplySelect to help even more families get life insurance right.”

 

To learn more about Policygenius, click here.