DealerPolicy Raises $110M for Embedded Insurance plan for Retail Auto Sales Market

DealerPolicy, a electronic insurance market for retail motor vehicle sellers and buyers, declared a $110 million Collection C investment led by the expansion fairness organization in just Goldman Sachs Asset Management.

The Vermont-primarily based company mentioned the new expenditure will be used to accelerate the advancement of the company’s finance and insurance plan choices for both of those dealers and car customers, enabling auto insurance coverage to be integrated on the net and at the point-of-sale.

Its mobile technologies permits automobile prospective buyers to view multiple insurance coverage quotes and straight away invest in online or link with licensed insurance plan brokers to complete the insurance plan shopping for procedure

DealerPolicy Coverage, the brand’s agency, statements to have a network of much more than 1,000 dealers and more than 40 coverage carriers. It suggests it has composed more than $200 million in rates nationwide considering that 2016.

The agency’s carriers include things like Vacationers, Progressive, Nationwide, MetLife and Safeco.

The funding round also highlighted participation from current investors which include 3L Money and Hudson Structured Capital Management.

Goldman Sachs’ Paul Pate will sign up for the company’s board of directors

Source: DealerPolicy

Subject areas
Auto
Funding