Insurtech firm Goji, announced last week it secured $15 million during its latest investment round, which was led by Hudson Structured Capital Management Ltd., (HSCM Bermuda). The companies have also formed a new strategic partnership.
The company, which was launched in 2007, offers data-driven home and automobile insurance platform that enables agents to match coverage needed. Customers have access to an online insurance service that yields personalized real-time, valued-based quotes designed to fit their individual coverage requirements. Speaking about Goji’s growth and development, Peter Breitstone, Goji’s recently-appointed CEO, stated:
“Goji has a leading-edge platform that enables the right online distribution model for the insurance industry today. It leverages data and analytics with its smart technology to target loyal customers, building a valuable book of business. We are experiencing impressive growth as we identify and convert more preferred buyers online.”
Vikas Singhal, Partner of HSCM Bermuda, also spoke about the investment by commenting:
“Goji is a leader in the technological transformation of the distribution of insurance. We believe they have built a platform that represents the right next step in the evolution of how insurance will be sold – a hybrid online and offline model. We believe Goji’s unique strategy will show substantial growth that extends beyond just the markets they currently operate in.”
Goji Executive Chairman, Matt Coffin, went on to explain that the partnership with HSCM Bermuda brings on an investor with “a demonstrated sophisticated knowledge of insurance along with strong access to the insurance and reinsurance markets.” He then added:
“We’ve already identified several opportunities to continue to expand Goji’s business and are looking forward to exploring additional ways to strategically partner with HSCM Bermuda’s business and leverage their resources for our mutual benefit.”