- Broker Buddha, a company that makes the commercial insurance application and renewal process much simpler, announced it raised $4.5 million in funding led by Vertex Ventures
Broker Buddha — a tech company that makes the commercial insurance application and renewal process much simpler — announced that it raised $4.5 million. This funding round was led by Vertex Ventures.
What does Broker Buddha do? Broker Buddha’s platform essentially automates agency operations thus turning tedious paperwork into an efficient digital process and benefits both insurance agents and their clients.
Through a user-friendly interactive smart form, a modern familiar web interface, and an integrated eSignature capability, Broker Buddha creates a powerful agency-branded online experience for insurance clients.
“The product transforms an outdated way of doing business that has long been frustrating and slow-moving for brokers and their clients,” said Broker Buddha CEO Jason Keck. “It frees up valuable time so agents can focus on what they love doing — taking care of their clients.”
Broker Buddha’s online submission platform converts static PDF insurance applications into user-friendly and interactive online smart forms. And new prospects can quickly complete applications online through the agency website while returning clients can update forms pre-filled with the prior year’s information and sign electronically online. And then the platform highlights year-over-year changes for brokers thus saving them time.
Broker Buddha gained significant traction from top-tier commercial insurance agencies like Brown & Brown and AssuredPartners.
This round of funding will enable Broker Buddha to expand its offering, grow the team, and increase marketing efforts so it can continue to relieve brokers from the mundane aspects of their job and propel the insurance industry forward.
“Broker Buddha’s product provides a crisp, modern interface driving massive efficiency gains for the client, broker and underwriter,” added Vertex Ventures Partner Sandeep Bhadra. “By relieving some of the tedium, they enable more of the white-glove, customized service business owners need and love. We’re excited to partner with a company driving such significant industry change.”
