Homelyfe develops an app for buying insurance, getting quotes, and reviewing multiple policies. It plans to add multiple general insurance lines starting early next year with home insurance. The new funds will be used to follow its “aggressive” product roadmap.
“Our vision for Homelyfe is to build an insurance solution around the needs of the modern consumer,” said Peter Goodman, CEO of Homelyfe. “The insurance industry has seriously fallen down on customer centricity, not interacting with people on the technology they want to use, or with the solutions they expect and not being wholly transparent around pricing.”
Insurance tech (or insurtech) is an area that investor Talis Capital closely monitors, added Vasile Foca, managing partner at the firm, as it is a “sector experiencing monumental shifts in technology”.
“The Homelyfe team has an impressive track record that is supported by a compelling business idea, which addresses a notable gap in a market that is ripe for disruption and improvement,” said Randall Lloyd of Peterson Ventures.