PolicyGenius Secures $30 Million

Insuretech startup PolicyGenius completed $30 million in Series C financing. Two investors contributed to the round, among them Norwest Venture Partners.

PolicyGenius, based in New York City, was founded in 2014 by two former McKinsey consultants who saw a gap in the insurance industry and dedicated themselves to shifting the industry online and providing control to consumers.

Using the company’s tailored Insurance Checkup™, users can identify their coverage gaps and review solutions for their specific needs. The company provides a place online to shop for life, long-term disability, health, renters, and pet insurance through its highly accurate quoting engines, which offer side-by-side comparisons of tailored policies.

In its announcement, the company said PolicyGenius hopes to use the funding to expand its product lines to include property and casualty policies, and to build out relationships with its partners.