Insurtech Ledgebrook Raises $4.2M To Provide A Best-In-Class Quoting Experience To Wholesale Brokers
Insurtech Ledgebrook Raises $4.2M To Provide A Best-In-Class Quoting Experience To Wholesale Brokers
08/16/22, 2:18 PM
Location
boston
Money raised
$4.2 million
Round Type
seed
Ledgebrook, a Boston-based insurtech founded in March, has announced that it raised $4.2M in seed funding to build out its operations with the goal of writing its first policies in Q4 2022. The company plans to start by launching a broad-appetite E&S GL product (with supported excess) to establish its value prop to wholesale brokers ahead of expanding via multiple additional product launches in 2023.
Company Info
Location
boston, massachusetts, united states
Additional Info
Ledgebrook is an InsurTech MGA on a mission to bring Specialty insurance into the modern era. Burdened with legacy technology and processes, the industry has not kept pace with the speed of innovation seen in other sectors. Positioned at the cutting edge of the next generation of InsurTech, Ledgebrook offers the best of both worlds: innovative world-class technology deployed by a leadership team armed with decades of insurance expertise.
Our long-term vision is to become a diversified full stack Specialty re/insurer competing with legacy carriers in product lines & markets across the globe. To get there Ledgebrook will build our premium base by rolling out a new Specialty product every ~6 months until we prove enough traction to raise a balance sheet, become a full stack carrier and eventually compete in the reinsurance markets as well. Our initial product will be domestic primary and excess GL E&S policies sourced via wholesale brokers.
At Ledgebrook everything we do is driven by our culture: Care, Strive, Thrive Together. To succeed in modernizing the industry, we must first succeed in changing the way we do business. Talent density is our north star—fewer, better people working together as one. To that end we’ve replaced all individual incentives with generous equity packages—we play as a team, we win as a team. Everyone benefits handsomely from Ledgebrook’s success.