Openly, an Insurtech that promises better home insurance, has launched its offerings in Utah as it expands across the US.
Openly is on a mission to deliver “premium insurance made simple.” The company promises more complete coverage at competitive prices leveraging technology and data to improve upon legacy providers.
Openly states that independent agents in Utah can now utilize Openly’s comprehensive coverage to obtain quotes in just 15 seconds.
Ty Harris, CEO and co-founder of Openly, their continued expansion westward is another exciting milestone as they “provide comprehensive coverage options to homeowners across the United States, and solidify our position as the leading provider of home insurance in the nation.”
Utah is the twentieth state in Openly’s expansion. The company reports over 1,800 independent insurance agencies offer Openly’s product to homeowners across these twenty states, and the platform boasts a 90% retention rate among homeowners to renew policies.
Founded in Boston in 2017, by Harris and Mat Wielbut, in the past year Openly reports growth achieving 700% in in-force premium, 250% growth in independent insurance agents selling on its platform, and hiring more than 100 employees.
Not too long ago, Openly raised a $75 million Series C funding round, bringing its total funding to $137 million.