Boston-based Goji was one of the first “insurtech start-ups”
Online insurance platform Goji has been bought by the Florida Property and Casualty Insurance Agency Seeman Holtz. One of the earliest insurtechs on the insurance scene, Goji has morphed over the years to become and online analytics and data-driven personal lines distribution platform offering personalized, real-time, value-based insurance products from over a dozen national insurance carriers.
According to the terms of the transaction, Seeman Holtz plans on incorporating Goji’s technology platform into its own existing divisions and industry verticals in order to maximize the agency’s operational efficiency. The additional of Goji’s technology also will allow bring multiple benefits to the agency including tools to better address clients needs, additional digital marketing channels and partnerships avenues, and an increased profile as a national leader in online digital marketing and customer acquisition.
“We have become the industry leader in attracting acquisition partners who are interested in partnering with a fast-growing national insurance platform while continuing to grow their business. Goji is a big win for us. The culture is a great fit and the synergies and opportunities are extraordinarily complimentary. The Goji team will have an instant impact on our existing InsurTech platform,” noted Marshal Seeman, President of SHPC in an official announcement.
Eric Holtz, Executive Vice President, and Chief Marketing Officer of SHPC added, “Goji has developed a brilliant model of acquiring new clients by utilizing data, analytics, and online marketing, complementing our existing capabilities for servicing and selling additional products to existing clients. This unique combination will supercharge our business and further enhance our innovative focus on leveraging data and analytics to achieve operational excellence.”
As for Goji, its current leadership says the online platform will receive an “immediate boost” with the additional access it will have to the 400+ carrier relationships as well as the 50 state agent licenses that SHPC boasts.
“A rapidly growing technology-enabled agency platform with diversified product lines across commercial and personal lines is a winning formula,” said Matt Coffin, Chairman, and investor in Goji. “We look forward to continuing to help the business grow and expand.”
Peter Breitstone, Goji’s Chief Executive Officer noted, “These are exciting times in the Insurtech space. The ability to leverage Goji’s proprietary technology platform across SHPC’s clients, carriers and partnerships will create opportunities not only for the existing business but also for future partners seeking to participate in the insurance technology revolution.”
Goji marks the 50th acquisition for Seeman Holtz
Founded in 1998, by Eric Holtz and Marshal Seeman, Seeman Holtz has seen explosive growth over the past two decades, logging an impressive 50 agency acquisitions in just twenty years. In commenting on its milestone acquisition of Goji, Marshal Seeman, President of SHPC, noted that the company’s value proposition is a key piece for potential sellers to the agency. “Completing our 50th acquisition is not only a significant milestone but also a testimony to our value proposition to potential sellers.”
The sale of Goji comes a little more than a year after the company appointed insurance veteran Peter Breitstone as its CEO. This is the second acquisition of a Boston-based insurtech platform this year. In August, Agency Checklists announced that Boston-based Quilt, which was coincidentally founded by a former Goji exec, had been acquired by MassMutual’s wholly-owned Haven Life. For this interested in re-visiting that article, it is entitled, “MassMutual’s Haven Life Acquires Boston Insurtech Quilt.“