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Talage Secures $9M Venture Funding to Instantly Deliver P&C Quotes Through Digital Channels
Platform Delivers New Efficiencies and Profitability to the Insurance Carrier, Agent, and Wholesaler Ecosystem
RENO, Nev., Feb 8, 2022 — Talage, a provider of digital distribution software solutions for commercial insurance, today announced $9 million in new venture funding. The round was led by Merus Capital, with participation by Calibrate Ventures, Hallador Financial, Advantage Capital, and Reno Seed Fund. The financing will broaden the Talage reach, increase brand awareness and help it become the go-to partner for carriers, agents, and wholesalers that adopt its tools in the commercial insurance industry.
Talage is a digital distribution platform for the commercial P&C insurance industry that automates traditionally manual processes, such as applications or submissions. The solution provides the ability to quickly and easily equip agencies, wholesale brokers, and other carrier partners with the digital tools to support automation and growth in the small business segment.
Over the past 12 months, demand has prompted Talage to add the ability to quote additional lines of coverage such as professional liability and cyber insurance and deliver industry-first tools to simplify renewals, book rolls, and cross-sell opportunities. With access to more than 30 API-enabled products for insurance that dramatically reduce quote times, Talage has turned what was an arduous, weeks-long process for agents, into a near-instantaneous turnaround. Agents and brokers can now quickly generate quotes for customers while automating that process through digital platforms and extending their reach and book of business.
“Talage is at the forefront of the digitization of the insurance industry and is becoming a critical part of the industry’s foundational technology stack,” said Salman Ullah, Partner at Merus Capital. “The team has the experience and technical know-how to address a huge market opportunity. We’re excited to partner with them on this journey.”
“The new funding underscores how much the industry believes in our mission, and that the Talage platform is the key to digitizing and optimizing what has been a very analog, manual, time-consuming, and costly process,” said Adam Kiefer, CEO, and Co-founder, Talage. “We’re grateful to Merus Capital and our existing investors for their partnership and continued belief in our mission, and we’re excited to deploy these new resources into the areas of our business that will continue to bring value to the entire business insurance ecosystem.”
Founded in 2015, Talage has been on a fast growth path, and over the past two years, the company has seen a spike in demand for its technology. The small business insurance ecosystem has rushed to adopt innovations that enable carriers, agents, and wholesalers to generate more business with greater efficiency and profitability than traditionally relied-upon manual processes.
Talage powers the online purchase of workers’ compensation, liability, and property insurance by small businesses in all 50 states through carrier partners, including Acuity, Coterie Insurance, Hiscox, Liberty Mutual, and Travelers.
Talage is the digital connection that powers digital distribution for commercial P&C insurance via the Talage API platform. With over 30 carrier integrations Talage delivers instant, bindable quotes across five product lines. Today the platform is leveraged by agents, wholesalers, carriers, and technology providers.
For more information, please visit www.talageins.com.
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