US-based digital insurance broker Kelly Klee has closed a $4.5m seed round across two closes.
Participants to the round include former Esurance CEO Gary Tolman, Google Compare Insurance former head of business development David Fitzgerald, Brentwood Associates former general partner David Wong, LowerMyBills founder Matt Coffin, Kelly Klee CEO Jon Kelly, and Langdell Investments.
Kelly Klee is a digital insurance broker to help get coverage for homes, cars, valuables and personal liability. The platform helps to compare policies from across all 50 states, to find the best coverage.
The company provides coverage across the US of more than $1.2bn in assets, underwritten by insurers including Chubb, AIG Private Client Group, PURE, Nationwide Private Client, among others.
Alongside the funding round, the company has launched a hybrid human-robo advisor for personal insurance. Consumers can receive a personal coverage score and analysis after answering questions about their assets and lifestyle. Following this, the user can continue with their advisor to compare insurance policies.
Kelly Klee founder and CEO Jon Kelly said, “Up to this point, online insurance has been about quickly delivering plain vanilla products to the masses. Many of our clients spend over $10,000 per year on their policies and have significant assets to protect. Unfortunately, about 80% come to us with severe coverage gaps. They need expertise. That’s why we built the online coverage advisor with a seamless transition to licensed experts.”
North America dominated the InsurTech space last year, representing 62 per cent of the total $1.4bn capital invested in the space.
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