Insurtech company QuoteWell has emerged from stealth mode and announced the launch of its brokerage operations, aiming to serve independent retail agents. The commercial insurance wholesale brokerage wants to help overlooked insurance agents by finding and placing the risk.
With the launch of its brokerage operations, QuoteWell aims to provide a responsive and transparent experience for retail agents while disrupting the traditional insurance distribution model. The company’s 12 licensed brokers and AI-backed models assist customers with coverage recommendations from its panel of over 45 carrier partners. This enables brokers to recommend coverage and respond to agents in less than two hours.
QuoteWell has raised over $15 million in Series A funding, led by New Enterprise Associates. The funds will be used to expand the brokerage team and enhance automation and operational efficiencies.
