WALNUT CREEK, Calif., Feb. 3, 2021 /PRNewswire/ — Heffernan Insurance coverage Brokers, one of many largest full-service, impartial insurance coverage brokerage companies in the USA, is taking part in a seed spherical financing for TrustLayer, a next-gen collaborative threat administration platform and the insurance coverage business’s first real-time proof of insurance coverage verification answer. Summary Ventures led the funding together with Propel Enterprise Companions, NFP Ventures, and Precursor Ventures.
With an abundance of curiosity, the spherical was closely oversubscribed, a mirrored image of the energy of TrustLayer’s present compliance software program and its success in growing a digital proof of insurance coverage answer. Twenty of the highest 100 insurance coverage businesses within the U.S., in addition to their C-suite executives, additionally participated within the spherical. Along with Heffernan, a few of these taking part businesses embrace Holmes Murphy, M3, NFP, and Graham Firm.
BrokerTech Ventures (BTV), a gaggle made up of 13 of probably the most revolutionary insurance coverage businesses within the U.S. and 11 top-tier insurance coverage corporations, can be a participant within the seed spherical. This represents BTV’s first funding in a cohort member of their accelerator.
The seed financing comes after a formidable yr for TrustLayer that included appreciable development in industries akin to development, property administration, sports activities and hospitality. TrustLayer additionally developed new business relationships with a number of of the highest 100 brokers and carriers within the U.S. Partnerships fashioned with insurance coverage and threat business teams and networks akin to BrokerTech Ventures (BTV), The Institutes/RiskStream, Past Insurance coverage and MarshBerry, are additionally taking part in a big position in enlargement success. The following section of development will contain fast scaling in new and current industries in addition to progress in direction of the imaginative and prescient of a real-time proof of insurance coverage answer for companies of all sizes, throughout all industries.
“We’re honored to have the assist of so lots of the prime 100 insurance coverage brokers,” mentioned John Fohr, co-founder and CEO of TrustLayer. “Verification of insurance coverage and enterprise credentials is a ache level for thousands and thousands of companies and calls for an answer that’s automated and safe.”
“We proceed to be impressed and inspired by the momentum and business adoption of the TrustLayer know-how and threat administration platform,” mentioned Dan Keough, Chairman and CEO of Holmes Murphy and co-CEO of BrokerTech Ventures. “We view TrustLayer’s involvement in our inaugural BrokerTech Ventures Accelerator program as a catalyst for them to change into the data clearinghouse for the insurance coverage business, and we’re delighted to be part of their capital increase and continued success.”
“We’re excited to again TrustLayer as they modernize the insurance coverage stack, beginning with compliance automation and digital proof of protection,” mentioned David Mort, partner at Propel Venture Partners. “The client and investor curiosity from main brokerages validates TrustLayer’s strategy and we sit up for working with all to rework the best way the insurance coverage business shares info.”
About Heffernan Insurance coverage Brokers
Heffernan Insurance coverage Brokers, fashioned in 1988, is among the largest impartial insurance coverage brokerage companies in the USA. Heffernan gives insurance coverage and monetary providers merchandise to a spread of companies and people. Headquartered in Walnut Creek, Calif., Heffernan has workplaces in San Francisco, Petaluma, Menlo Park, Truckee, Bakersfield, Woodland Hills, Los Angeles and Irvine, CA; Phoenix, AZ; Portland, OR; Seattle and Olympia, WA; St. Louis, MO; Philadelphia, PA; and London UK.
Worker-owned, Heffernan Insurance coverage Brokers was named the High Mid-Sized Dealer in the USA to work for in 2009 by Enterprise Insurance coverage Journal. The agency has been among the many High Larger Bay Space Philanthropists since 2003.
For extra info, go to www.heffins.com. License #0564249
About TrustLayer
TrustLayer is a collaborative threat administration utility that helps scale back friction between companies. Firms can automate the verification of insurance coverage, licenses, and compliance paperwork of their enterprise companions (i.e., distributors, subcontractors, suppliers, debtors, tenants, ridesharing and franchisees).
TrustLayer can be working with dozens of the biggest brokers and carriers within the U.S. to construct out a digital proof of insurance solution so corporations will be capable of mechanically validate their enterprise companions have the right protection.
For extra info on TrustLayer, go to http://trustlayer.io
SOURCE Heffernan Insurance coverage Brokers
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