Technology-Enabled, Premium Homeowners Insurtech Marks 10th State in National Expansion
BOSTON, MA / ACCESSWIRE / April 28, 2021 / Openly, the premium homeowners insurance platform, is now available in New Mexico. Independent insurance agents in New Mexico can now access Openly’s premium, transparent and comprehensive coverage, obtaining quotes in seconds.
New Mexico marks the tenth state in Openly’s nationwide expansion, joining Arizona, Illinois, Indiana, Kentucky, Ohio, Pennsylvania, Tennessee, Wisconsin, and Massachusetts. The insurtech plans to continue its expansion state by state, announcing more in the coming months. Today, over 1,500 independent insurance agencies offer Openly’s product to homeowners across these now ten states, and the platform boasts a 91% retention rate among homeowners to renew policies.
“Our New Mexico entrance marks a turning point for our company as we now operate in 20% of the United States, which is a true testament to the continued adoption of the Openly technology,” said Ty Harris, Co-Founder and CEO of Openly. “We’re excited for what’s to come and look forward to continuing to bring simple and streamlined homeowners insurance to even more agents throughout the US.”
Founded by insurance industry veterans Ty Harris and Matt Wielbut, Openly uses next-generation data and technology to offer straightforward, customer-friendly home insurance policies. Given the complex nature of most policies and the sensitivity around protecting one’s home, nearly 50% of Americans buy their home insurance through an independent agent. Openly sells its policies exclusively through these agents. Their mission has been to bring transparency to an industry that’s traditionally opaque through an insurance platform that offers competitive coverage options. Openly offers comprehensive coverage that is unique in the space, including features like Coverage A up to $3 million, guaranteed replacement costs up to $5 million, coverage for trampolines and pools with diving boards, and no prohibited dog breeds.
Openly’s rapid adoption by independent agents is a testament to its innovation. Openly rebuilt the entire technology and operations stack of insurance to create an intuitive and stress-free quoting process. All information is presented at the point of sale in real-time pulling from over 50 data points in seconds compared to 45 minutes for many other insurance companies that agents work with each day. With Openly, New Mexico’s independent agents can now create a seamless and streamlined insurance experience for both their agencies and the clients.
Openly is a Boston-based premium homeowners insurance company. Its centralized platform offers comprehensive coverage using advanced pricing models. Founded by industry veterans in 2017, Openly is dedicated to delivering modern and transparent homeowners insurance and empowering independent agents across America. For more information, visit Openly.com or linkedin.com/openlyinc.