We are pleased to announce our investment in DealerPolicy.
DealerPolicy is transforming how auto retailers provide auto and home insurance to car-buying customers.
The DealerPolicy Marketplace is seamlessly integrated into the car-buying process, both online and in-store using customer data already provided for vehicle financing. With just a few clicks, the customer can instantly receive multiple insurance quotes from leading insurance carriers and connect with a licensed agent. In nearly all cases, DealerPolicy is able to offer substantial savings, often times with improved coverage.
From an insurance perspective, these are high-value, hard-to-reach consumers who rarely change carriers.
DealerPolicy's innovative product and business model is reflected in the accelerated rollout of its platform: The company represents 30+ leading insurance carriers and has over 400 dealer clients operating in 13 states and rapidly growing. One of the key drivers of the company’s success has been the recent introduction of its new Digital Dealer Agency program, a highly compelling financial opportunity exclusively for franchise auto dealers.
We are thrilled to be backing this high caliber management team with strong entrepreneurial experience. The team has a unique blend of expertise and complimentary skill sets at the intersection of two major industries, automotive retail and property and casualty insurance.
MTech Capital and certain members of Stone Point Capital were the new investors in this financing, with participation from existing investors.
"As the trusted insurance partner for automotive retailers, we have built a business model that is a true win-win for all parties – auto dealers, insurance carriers and most importantly, the consumer. We are excited to welcome aboard sophisticated insurance and technology investors that will help accelerate our nationwide expansion plan and further enhance the value to all.” Travis Fitzgerald, CEO