I just counted a possible 48 endorsements available on the Travelers Homeowner quoting portal. Please let people buy insurance online, zero chance they screw it up.
The conventional wisdom on insurtech has been wrong for about a decade.
The story that got funded was DTC.
Skip the agent, sell direct, win on UX. Billions of dollars later, the agency channel still writes the majority of P&C premium in this country and is not going anywhere.
The carriers know it.
The reinsurers know it.
The customers, when something actually goes wrong, definitely know it.
The real opportunity was never replacing the agent.
It was equipping the agent.
The agency channel is undertooled, underbuilt, and undervalued by the people writing the checks.
The work is hard, the margins are real, and the technology serving it has been a graveyard of half finished CRMs and rebranded ACORD forms.
I have been running Portal Insurance through this whole cycle. I have watched the producer shortage, the rising E&O exposure, the carrier consolidation, and the tooling gap converge into a problem too big for any single agency to solve on its own.
While we have built our own tools to compensate but nothing and I mean nothing compares to what we experienced when we signed up with Outmarket AI as a customer.
This is why I invested in this round.
Vishal Sankhla, Anshu Jain and the team are building the platform the channel actually needed all along.
Submissions, automation, leverage. The work, finally respected.
$17M Series A live this morning. The thesis is correct and the timing is right.
This is the best piece of tech by two of the best founders I've seen in a long time.
@PtRightsAdvoc@susanhogantv This happened to me. My Mom, 3 weeks in hospice, the final bill had an extra $10k due to a "diabetic condition". She was there bc of lung cancer. They ran a "test" and charged the extra money, bc they could.