Policygenius

Policygenius is an online comparison website. Their website provides users with a service to browse various insurers policies, which are specific to their own needs. Their aim is to simplify the buying of insurance so that people can purchase coverage that fully suits them at an affordable price. Alongside the websites ability to purchase and compare policies, Policygenius also offers users an advisory service where they can contact experienced experts who will be able to guide them through the process.

In early 2019, the startup announced it had added home and auto insurance to its offering. As part of the service, Policygenius' agents will assess coverage and provide personalised rates, as well as handle new policy paperwork and policy cancellation to ensure they stay true to their commitment of simplifying the customer journey. During the soft launch in the latter half of 2018, Policygenius found that more than half of customers switched to a better policy, with an average saving of $600 per year.

In January 2020 Policygenius raised a $100m Series D. The round was led by KKR, and had participation from AXA Venture Partners, MassMutual Ventures, Transamerica Ventures and others. The company plans to hire new staff and release new financial protection products with the new funds.

In June 2020 it was announced Brighthouse Financial would launch Brighthouse SimplySelect with Policygenius. The new term life insurance product, which doesn't require 'invasive' testing, will offer decisions with 24 hours for most cases.

In August 2020, Policygenius launched a mobile app that enables consumers to create wills and trusts on their phones. Consumers can also shop for life and home insurance from the app, creating a mobile one-stop shop for key financial protection needs.

In September, the company expanding its marketplace with Lincoln Financial Group to offer Lincoln TermAccel, which offers life insurance protection for 10-, 15-, 20- or 30-year terms with coverage amounts from $100,000 to $1m.

In July 2021 it was reported that Policygenius was in talks to go public through a merger with PWP Forward Forward Acquisition Corp.

In March 2022 Policygenius raised $125M in Series E funding. The company plans to invest the fresh funds in the growth of its core business in life, disability, home and auto. The funding follows the recent launch of its Pro offering - a B2B distribution offering for its life insurance platform.

In June 2022 Policygenius and Impact announced a partnership to bring Policygenius' Pro term life fulfilment platform to Impact's network of financial advisory. Policygenius Pro was launched earlier in 2022 and it helps advisors streamline life insurance sales. With the tool, advisors and agents are able to refer their clients to Policygenius to complete the whole process from policy selection to placing coverage.

During October the company announced it was partnering with CBIZ to bring Policygenius Pro to the CBIZ network of insurance professionals. Policygenius Pro will be rolled out to CBIZ advisors, who in turn will be equipped with unique landing pages and engagement tools, helping to create life insurance conversations with their clients.

In April 2023 Life insurance and annuity solutions provider, Zinnia, announced it is acquiring Policygenius. Together, Zinnia and Policygenius will offer products and services spanning life and annuities, disability, and property and casualty insurance. Zinnia will continue to offer Policygenius’ full suite of online services under the Policygenius brand. These capabilities will connect with Zinnia’s new system of record to further develop the “Open Insurance” architecture. The acquisition opens growth opportunities for Zinnia’s and Policygenius’ combined 60+ carrier clients, 350 distributors and partners, and 2m+ policyholders.