Looking for the latest update on Policygenius? We've got recent news, their latest funding information, company insights, recent product offerings, and more. Policygenius is making great headway and the company's future looks very bright.
In case you need a refresher, PolicyGenius is a leading online insurance marketplace that helps consumers find the best policies for their needs. They have the technology and know how to help you sort through the dozens of different carriers and thousands of different policies so you don't have to, for free.
Policygenius presents the best plans and prices, making them easy to compare.
Update On Policygenius' Marketplace Offerings
PolicyGenius's bread and butter is life insurance. They offer term life insurance policies ranging from 5 years to 30 years. And coverage amounts range from $25,000 – $10,000,000.
However, due to the company's success, Policygenius now offers many more types of insurance in its free online marketplace. Although they don't offer pet insurance anymore, you can shop for many other types of insurance and products. The list is huge!
- Life Insurance
- Homeowners Insurance
- Renters Insurance
- Auto Insurance
- Disability Insurance
- Wills and Trusts
- Health Insurance
- Long-Term Care Insurance
- Vision Insurance
- Travel Insurance
- Jewelry Insurance
- Identify Theft Insurance
- Prescription Discount Cards
Policygenius does all the legwork involved with making tough insurance decisions on behalf of their customers. And they also help with the application and purchasing process. Policygenius' licensed experts can explain policies and the entire process in plain English so you know what you’re getting.
Sign-up link to get free term life insurance quotes: PolicyGenius
Recent Funding Rounds For Policygenius
Policygenius was founded in July, 2014. So just how much has Policygenius raised in funding? In January 2020, Policygenius raised a massive $100 million million round of funding led by KKR. And in March 2022, they raised an additional $125 million in a Series E round. All told, Policygenius has raised over $276 million in 7 rounds of funding.
They have 6 key investors including KKR, Norwest Venture Partners, and Orix Growth Capital. And recently had MassMutual, Pacific Life, and Lincoln Financial Group join their list of 27 investors. Policygenius is one of the most well capitalized life insurance marketplaces today.
Their expansion into more types of insurance while maintaining their high level of customer service shows they are well managed and forward thinking.
Policygenius Latest Insights
Here are some further Policygenius company updates.
- Business was up strong in 2021 over 2020 and 2019. The coronavirus pandemic has made people look into the different types of life insurance policies. And product expansion has brought in new clientele and repeat customers back.
- The company grew annualized revenues to $60 million as of early 2020, a whopping 10X increase.
- According to a statement made by co-founder and CEO Jennifer Fitzgerald in May 2021, Policygenius wants to offer insurance policies of its own down the road.
- Policygenius hired a new business development lead who came from OnDeck Capital.
- Also hired a new head of content to help build quality educational content for its customers.
- Working on new business partnerships in San Francisco.
- Launched a health insurance, vision, identity theft marketplace and more
- New head of design, Justin Ternullo
- New Director of Operations, Justin Singh
- Massive $100 million round of funding by KKR.
Policygenius Management Team Update
Here's a look at the Policygenius updated management team snapshot. I've met both Jennifer Fitzgerald and Francois de Lame to discuss their platform in detail. I admire what they've built and both my wife and I have used Policygenius extensively to shop for insurance.
Policygenius continues to grow its employee base and has a talented, diverse staff. It's not a surprise that the company was rated one of the best places to work for three years in a row.
The latest update as of 2Q2021 regarding Policygenius' staff is the company has surpassed 550 employees and is quickly approaching 600 employees. The firm is still hiring and continues to grow.
Update On Policygenius Going IPO
With the success of Policygenius thus far, and a successful Series D round of funding, the natural next question is when will they IPO?
The rumors are Policygenius will IPO sooner rather than later. Policygenius co-founder and CEO Jennifer Fitzgerald said in May 2021, “We are heading towards profitable and we are thinking about what's next for us on the capital markets horizon and maybe going public sooner rather than later.”
Two of Policygenius' main competitors, SelectQuote and Lemonade are already public. A third, Hippo, is already in the works to go public.
For Life Insurance, Policygenius Is The Place To Shop
If you're in the market for life insurance, or other insurance for that matter, or just want to see if your existing policy is fairly priced, Policygenius is the place to shop.
They make policy comparisons easy. The old school route was to call up individual insurance companies one by one to get quotes fill out an application. Now it's easier than ever online. Plus, given life insurance policy prices are regulated, you can be assured that PolicyGenius will provide the best prices for you all in one place.
In addition, Policygenius is safe, trustworthy, and reliable to use. Your information stays secure and will never be sold.
To learn more about Policygenius and get further updates, check out these related articles.
- Read our extensive Policygenius Review
- Learn how to get affordable life insurance with Policygenius
About the Author: Sam began investing his own money ever since he opened an online brokerage account in 1995. Sam loved investing so much that he decided to make a career out of investing by spending the next 13 years after college working at two of the leading financial service firms in the world. During this time, Sam received his MBA from UC Berkeley with a focus on finance and real estate.
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