A naukri.com initiative
Global Fintech Series
2d
388
Image Credit: Global Fintech Series
PolicyMe Announces $30 Million CAD in Funding and Expanded Product Suite, Transforming Digital Insurance
- PolicyMe, a leading digital insurance provider in Canada, has secured $30 million CAD in new funding to expand its product suite and services, including Health & Dental coverage along with white-labeled digital offerings.
- Strategic partners such as Blue Cross Life Insurance Company of Canada and Securian Canada have invested in PolicyMe, enabling the company's growth and successful expansion of innovative insurance products.
- The funding rounds in 2023 and 2025 bring the total amount raised to $51 million, supporting PolicyMe's goal of developing new insurance offerings and strengthening its B2B2C channel.
- PolicyMe's CEO, Andrew Ostro, emphasizes the company's focus on providing a customer-centric experience, offering both digital convenience and human support for insurance seekers.
- With a significant percentage of Canadians participating in gig work and self-employment, PolicyMe's new Health & Dental offerings address the needs of underinsured individuals, aiming to bridge the coverage gap.
- PolicyMe's white-labeled platform provides an end-to-end solution for partners, streamlining the insurance process and reducing time-to-market for new product launches.
- Collaborations with industry players like Blue Cross Life and Securian Canada have enabled PolicyMe to introduce innovative insurance solutions that cater to the needs of diverse customer segments.
- PolicyMe has witnessed substantial growth since its Series A funding, expanding nationwide, increasing premium sales, and focusing on technological advancements through data analytics and AI infrastructure.
- With a strong commitment to providing accessible and tailored insurance solutions, PolicyMe continues to drive innovation, reshape the insurance landscape, and meet evolving market demands.
- The company's dedication to inclusivity and transparency reflects in its mission to offer straightforward and affordable insurance options to all Canadians, supported by a team of industry experts and technology leaders.
Read Full Article
23 Likes
For uninterrupted reading, download the app