A new series that is characterizing itself as “Yelp” for insurance agents announced this week that it has closed its seed funding round and will begin fundraising for its Series A investment this month.
Agent Review is a free online platform to connect consumers with accredited independent agents and unbiased insurance education. It has more than 200,000 members to date, and was voted one of the “Six Most Innovative Products of 2015” by industry publication LifeHealthPro.
The angel investment in Agent Review was led by insurance leaders Joe Pulitano and Doug May, and by industry investors Towpath and Anabranch. The amount of money raised was not disclosed.
Investor Joe Pulitano is president of Advanced Resources Marketing, a Boston-based national distributor of long term care insurance, and Doug May is a senior executive with Willis Reinsurance. Towpath and Anabranch are international investment companies.
Jonas Roeser, co-founder and chief executive officer of Agent Review, said the successful fundraising is proof that the service is needed in the industry.
“This seed round was led by very experienced investors, offering further validation that Agent Review is a valuable tool for consumers to get objective information and be connected with verified local insurance professionals,” Roeser said in a statement. “It’s a challenge for consumers to find reliable information and agents when it comes to insurance.
“There still are a large number of insurance products that a consumer feels more comfortable buying from an agent versus an online program. Agent Review is the first of its kind.”
Roeser says the company plans to continue to grow at its already rapid rate.
Meanwhile, venture investor Mike Hurst has offered the product its further endorsement.
“Anyone who has shopped for insurance recently knows the process needs improvement. The market is ready to evolve and Jonas is the right entrepreneur for the job,” Hurst said. “We are excited to support his efforts.”
