Gore Mutual makes capital investment in tech start-up BrokerLift Inc.
Cambridge - Gore Mutual is furthering its commitment to digital broker distribution with a capital investment in Toronto-based technology start-up BrokerLift Inc. BrokerLift is a fully turnkey eCommerce platform designed specifically to enable insurance brokers to compete effectively with other online distribution channels.
As part of their investment, Gore Mutual has negotiated an incentive for its broker network to receive full BrokerLift platform integration with no set-up fees. BrokerLift will work with these and other brokers across Canada to integrate online quoting, credit card payment and electronic document delivery, with a range of products provided by leading insurance companies, directly into their existing website.
Paul Jackson, VP Distribution at Gore Mutual said: "We're an ambitious, growing company, committed to broker distribution. Investing in BrokerLift is a natural next step to bring a competitive broker eCommerce solution to the market. This industry leading technology will enable brokers to attract new customers, build loyalty and expand profits through efficient ecommerce."
Anna McCrindell, VP Underwriting at Gore Mutual said: "BrokerLift already has strong experience in the digital broker space and their platform is designed and built for the rigid regulatory requirements of our industry. Our investment enables BrokerLift to accelerate adoption, and we're pleased to provide two launch products aimed at renters and microbusinesses."
"We're thrilled that Gore Mutual has invested in our business because they are known for supporting true partnerships with brokers," said Thomas Accardo, Co-founder of BrokerLift. "Digital innovation is a cornerstone of Gore Mutual's strategy and their investment in BrokerLift will enable hundreds of brokers of all different types and sizes to move quickly and seamlessly to an ecommerce solution."
BrokerLift currently supports 6 products from 3 different Insurance companies with a goal of supporting well over a dozen by the end of 2016. "Consumer behaviour is changing quickly and eCommerce will be critical in servicing customers who demand 24/7 convenience to purchase their insurance products. It's not just the big guys who can offer this," said Co-founder Behzad Salehoun.
To that point, Paul Jackson added: "BrokerLift is independent and focused on creating broker-centric solutions. I encourage other insurance companies that support the broker channel to consider how their own products can plug into this innovative platform."