Launches in The Buckeye State to Bring Beautifully Simple Insurance to Independent Agents
Openly has entered another state. The Boston-based insurtech announced that it has officially entered the Ohio marketplace, making it the sixth state where its homeowner product is available.
“We chose to enter the Ohio market to address the state’s growing demand for transparent and comprehensive homeowners coverage at a competitive price,” said Ty Harris, Co-founder, and CEO of Openly. “As population trends continue to shift to the suburbs surrounding the three major metropolitan regions of Ohio, we see an escalating need to ensure that homeowners have the proper coverage for the most important assets. Openly strives to make the insurance process simple and transparent both for our agent partners and their customers.”
The homeowner’s product, available through the company’s online platform, uses advanced pricing models to provide comprehensive coverage which can be quoted in as little as 15 seconds. It is sold exclusively through the company’s independent agents partners.
“We are excited to make our innovative technology available to insurance agents in Ohio and help them better serve their customers,” said Matt Weilbut, Co-founder and CTO of Openly. “Our technology empowers agents by creating personalized quotes quicker and easier, allowing agents to spend more time addressing their customer’s needs and less time bogged down in policy and claims processes.”
In its official announcement, the company noted that in 2020, Ohio saw the largest outbreak of tornadoes in its history, in addition to other extreme weather events. As a result, it posits that its entrance into the Buckeye state will allow homeowners there greater access to a “…more transparent, personalized, and expansive coverage.”
Still awaiting approval in Massachusetts and three other states
While Openly had been hopeful to enter the Massachusetts insurance marketplace earlier this year, as of now, the company is still awaiting official approval. In addition to Massachusetts, the company also has plans to expand into Indiana, Georgia, and South Carolina. With the additional of Ohio, Openly is currently available in Arizona, Illinois, Pennsylvania, Tennessee, and Kentucky.
For those interested in learning more about Openly and its origins, the following Agency Checklists articles and interviews might be of interest:
- MA Insurtech Update: Openly Secures $7.65 Million In Funding From Google Venture Fund (March 3, 2020)
- Openly, Almost Open For Business In Massachusetts (March 3, 2020)
- Boston-Based Openly Launches In Kentucky (May 27, 2020)
- Openly Secures $15M In Series A Fundraising Round To Focus (June 25, 2020)
- “Openly For Business”: How This Boston Insurtech Is Hedging Its Bets On Independent Insurance Agents (October 29, 2019)
- “Openly” For Business: A Massachusetts Insurtech Betting On Independent Agents As The Future (March 6, 2018)