Relay Platform
Relay Platform is a Toronto-based insurtech SaaS company that provides a digital placement platform connecting insurance brokers with carriers, automating multi-carrier quote collection, comparison, and proposal generation across cyber, BOP, and reinsurance lines.
- Company typePrivate
- Founded2018
- HeadquartersToronto, Canada
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Relay Platform does
Relay Platform is a Toronto-based insurtech SaaS company founded in 2020 that provides a digital placement platform connecting insurance brokers with carriers and reinsurers. The company's core offering automates the multi-carrier quote collection, comparison, and proposal generation workflow for complex insurance placements, with particular focus on cyber/Tech E&O, Management Liability, Business Owner's Policy (BOP), facultative reinsurance, and representations and warranties. Its technology architecture is API-first, supporting both instant API-based quoting with integrated carriers (e.g., At-Bay, Coalition, Cowbell Cyber) and email-based workflow emulation for traditional carriers, supplemented by generative AI capabilities (Relay with AI Support) for cyber underwriting questions and machine-learning-driven placement analytics.
The company serves three primary segments: wholesale brokers placing layered insurance and reinsurance, retail brokers/agents (especially in cyber and small commercial lines), and insurance carriers/reinsurers providing capacity through the platform. Relay monetizes via a freemium self-serve tier with unlimited users and placements at no cost, paired with paid enterprise customization, white-label deployment, and multi-year contracts for partners requiring branded implementations. The platform is SOC 2 Type 2 compliant (August 2023), is ACORD Solutions Group's first Licensed Integrator Partner in North America, and has been recognized on the InsurTech100 list for four consecutive years and in Guidewire's Insurtech Vanguards Program.
Relay has raised approximately $8.1M USD across two seed rounds (2020 and May 2021), employs 11-50 people, and operates from Toronto with a US office in Wilmington, Delaware. The company is led by CEO Aaron Davidson (appointed May 2023) and VP of Cyber & Executive Risk Anne Hasenstab, whose team includes former practitioners from Chubb, Gallagher, Marsh, and Travelers — a deliberate talent positioning that emphasizes broker-domain credibility over pure technology pedigree.
Relay Platform firmographics
Firmographics- Name
- Relay Platform
- Legal name
- Relay Platform, Inc.
- Website
- https://relayplatform.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Relay Platform is a Toronto-based insurtech SaaS company that provides a digital placement platform connecting insurance brokers with carriers, automating multi-carrier quote collection, comparison, and proposal generation across cyber, BOP, and reinsurance lines.
- Ownership category
- akta.pro rank
Relay Platform industry classification
Industry- Product category
- Insurance Technology (Insurtech)
- NAICS
- Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182)
- SIC
- Services-Computer Integrated Systems Design (7373)
- akta.pro primary industry
- Tokenization, Network Vaults & Credential Management (FSAGABAF)
Keywords
Where Relay Platform is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Relay Platform business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- SaaS Platform Subscription: Relay provides its insurance placement platform as a SaaS solution. The platform is provided at no cost with no limitations to number of users or volume or placements. Revenue appears to come from premium features and customizations for enterprise clients.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Others | Free Platform Access |
| Subscription | Multi-year contract | Custom Enterprise Features |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Relay Platform product offering
Product offeringCore offering
Relay Platform is a SaaS insurtech platform that enables insurance brokers to collect, compare, and act on quotes from multiple carriers for commercial insurance placements, with a particular focus on cyber/Tech E&O, BOP, facultative reinsurance, and reps & warranties lines. The platform supports both API-enabled instant quoting and traditional email-based workflows, and includes AI-assisted cyber underwriting support, proposal generation, renewal automation, and white-label capabilities.
Product overview
Relay Platform is a SaaS (Software-as-a-Service) insurtech platform designed for digital insurance and reinsurance placement. The core platform serves as a unified digital marketplace connecting insurance brokers and capacity providers (carriers/reinsurers). The product architecture includes the core placement platform with features for quote collection, comparison, and proposal generation (Smart Customer Proposals™, Universal Quote Capture, End-to-End Workflow), supplemented by AI-powered capabilities (Relay with AI Support), specialized insurance line modules (Cyber/Tech E&O, BOP, Facultative Reinsurance, Reps & Warranties), educational resources (Risk Academy), and white-label/reseller options. The platform supports both API-enabled instant quoting and traditional email-based workflows to accommodate all carrier relationships.
Differentiator
Problem solved
Functional benefit
Brands
- Relay with AI Support: Chat-based AI technology that gathers underwriting questions from various insurance providers and enables users to seek information on technical and specialized cyber insurance-related inquiries.
- Relay Risk Academy
- Smart Customer Proposals
Products and services
- Smart Customer Proposals Proposal generation tool that allows brokers to produce client-ready proposals from selected carrier quotes using pre-built or custom templates, with export to PDF, Excel, Word, or PowerPoint formats.
- End-to-End Workflow Digitization Workflow module that automatically collects carrier quotes and organizes them in a comparison table with structured terms and endorsements for clear side-by-side evaluation.
- Universal Quote Capture Quote intake capability supporting instant API quotes, email-based quote requests, and manual quote entry, with automated learning to parse incoming quote documents.
- Reporting and AI Recommendations Analytics module providing placement, broker, and carrier performance insights with machine-learning recommendations on price, terms, and capacity sources, with data ownership retained by brokers.
- White Label Solution Reseller-facing deployment option that lets partners deliver the Relay platform under their own brand, URL, and email domain so end clients see only the partner's identity.
- Workflow and Automation (Renewal Auto-fill and Bulk Processing) Automation features including renewal auto-fill, bulk re-marketing of in-force business, and bulk proposal generation for multiple placements.
- Relay with AI Support Chat-based AI assistant that gathers underwriting questions from multiple cyber insurance providers and helps brokers answer complex cyber security questions with best-practice guidance.
- Relay Cyber for Retail Brokers Retail-facing module that lets retail brokers offer cyber, Technology E&O, Directors and Officers, Employment Practices, Fiduciary, and Crime coverage with instant bindable quoting.
- Relay Cyber for Wholesale Brokers Insurtech platform module tailored for wholesale brokers to efficiently and accurately place cyber and executive risk insurance with multiple carriers.
- Relay BOP for Retail Brokers Small commercial offering for retail brokers delivering multi-carrier BOP quotes from a single submission, with side-by-side coverage comparison and custom customer proposals.
- Relay Risk Academy Educational platform powered by NetDiligence that provides modules to help brokers have customer conversations about cyber risk.
- Facultative Reinsurance Solutions Digital platform for structuring and placing facultative reinsurance as part of Relay's broader insurance and reinsurance placement suite.
- Reps & Warranties Module Insurance module providing representations and warranties coverage placement as part of Relay's multi-line platform capabilities.
Quantifiable outcome
- 10+ hours saved per week per customer in prospecting for quotes alone
- +2 more outcomes
Companies that use Relay Platform
Customer profileNamed customers9 records
Segments3 records
Ideal customer profiles3 records
Relay Platform technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability5 records
Feature8 records
Relay Platform partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- At-BaycoreAt-Bay provides cyber insurance with instant quoting capabilities integrated through Relay's API, enabling brokers to receive bindable quotes immediately through the platform.
- CoalitioncoreCoalition provides instant cyber insurance quoting through Relay's platform, allowing brokers to get bindable quotes without delays.
- ACORD Solutions GroupcoreRelay became the first Licensed Integrator Partner in North America for ACORD Solutions Group, enabling Straight-Through Processing in the global reinsurance market through standardized data exchange.
- CNAcoreCNA is a capacity provider partner on the Relay platform, providing quotes for insurance placements.
- Coterie InsurancecoreCoterie Insurance provides capacity through Relay's platform for commercial insurance placements.
- Appalachian Underwriters, Inc.coreAppalachian Underwriters is a wholesale broker capacity provider integrated with Relay platform.
- Node InternationalcoreNode International is a capacity provider partner offering insurance solutions through Relay.
- Cowbell CybercoreCowbell Cyber offers instant API quoting for cyber insurance on Relay's platform, continuing Relay's revolution in instant quoting capabilities.
- CapriCMWcoreCapriCMW, a Canadian insurance broker, joined Relay's platform as part of Relay's cyber and specialty push in Canada.
- NetDiligencecoreNetDiligence powers the Relay Risk Academy, providing educational modules to assist brokers with customer conversations about cyber insurance.
- IVANS Insurance SolutionsminorRelay signed distribution agreement with IVANS Insurance Solution to expand into small commercial insurance market.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Relay Platform competitors and assessment
Company assessmentBroad incumbents
- Sapiens International: Global provider of insurance software platforms for property-and-casualty, life, and reinsurance carriers. Comparable to Relay on the reinsurance placement and straight-through-processing side of the workflow.
- Vertafore: Largest US insurance agency management and workflow software provider, serving the same broker channel Relay targets. Vertafore's NetRate, PL Rating, and Sagitta suites overlap with Relay's quoting, comparison, and placement capabilities, and it is the dominant incumbent Relay must displace.
- Applied Systems: Provider of Applied Epic and Applied RatingCloud, the most widely used agency management and comparative-rating platforms in North American insurance brokerage. Direct overlap with Relay's broker workflow and quoting-comparison proposition at a much larger scale.
- Duck Creek Technologies: Provider of Duck Creek Suite for P&C insurance core systems, including rating, quoting, underwriting, and policy administration. Overlaps with Relay on the carrier-side and workflow-automation layer used by brokers and insurers.
- Zywave: Insurance distribution and agency-management SaaS serving brokers, agents, and MGAs with quoting, content, and analytics tools. Adjacent competitor to Relay on the broker productivity, analytics, and workflow side.
- Guidewire: Dominant P&C insurance platform for large insurers, including rating, underwriting, and claims. Relay's Insurtech Vanguards partnership with Guidewire makes it both a complement and a potential channel partner, while Guidewire's insurer-side footprint means it could absorb similar capabilities over time.
Direct peers
- EZLynx: Comparative-rating and quote-management platform acquired by Applied Systems, focused on multi-carrier personal and commercial lines quoting. Closest direct peer to Relay's Universal Quote Capture and side-by-side comparison value proposition for retail and small-commercial brokers.
- Tarmika: Commercial-lines comparative-rating workflow tool that lets agents quote multiple carriers from a single entry. Highly comparable to Relay on instant quoting, multi-carrier comparison, and the broker productivity story, with similar mid-market positioning.
- BriteCore: Cloud-based core-processing and workflow platform for property-and-casualty insurers and MGAs, including rating, quoting, and policy administration. Competes with Relay on the workflow/automation layer that connects brokers with carriers.
Emerging players
- Now Insurance: Digital commercial-lines broker platform that aggregates carrier quotes through a single workflow. Closely comparable to Relay's positioning as a broker-facing multi-carrier placement and quoting platform for small and mid-market risks.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Relay Platform social profiles
Digital presenceRelay Platform compliance and trust
Trust signalCompliance2 records
Relay Platform financial estimates
Financial estimateRevenue estimate
Valuation estimate
Relay Platform leadership team
Management profileNumber of profiles
Profiles2 records
Relay Platform funding detail
Funding detailFunding overview
Funding rounds2 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Relay Platform M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Relay Platform
What does Relay Platform do?
Relay Platform is a SaaS insurtech platform that enables insurance brokers to collect, compare, and act on quotes from multiple carriers for commercial insurance placements, with a particular focus on cyber/Tech E&O, BOP, facultative reinsurance, and reps & warranties lines. The platform supports both API-enabled instant quoting and traditional email-based workflows, and includes AI-assisted cyber underwriting support, proposal generation, renewal automation, and white-label capabilities.
Is Relay Platform a public or private company?
Relay Platform is a private company. It is classified as venture growth investor backed and is currently operating.
When was Relay Platform founded?
Relay Platform was founded in 2018. It employs 11 to 50 people.
Where is Relay Platform based?
Relay Platform is headquartered in Toronto, Canada, in the North America region.
How does Relay Platform make money?
One revenue line is on record: saaS Platform Subscription.
Who are Relay Platform's main competitors?
Broad incumbents on record are Sapiens International, Vertafore, Applied Systems, Duck Creek Technologies, Zywave and Guidewire. Direct peers are EZLynx, Tarmika and BriteCore. Now Insurance is listed as an emerging player.
Does Relay Platform have an API?
Yes. Relay is built on an API architecture. The platform supports both API-enabled instant quoting connections with carriers and traditional email-based quoting workflows. Carriers can integrate via API for electronic quote retrieval, and the platform can also emulate email quoting processes when API connections are not available. Specific API types and endpoints should be discussed by contacting the integration team at [email protected]. Developer documentation is at www.relayplatform.com/faq.
What industry is Relay Platform in?
Relay Platform's product category is Insurance Technology (Insurtech). Its primary akta.pro industry code is FSAGABAF, Tokenization, Network Vaults & Credential Management. Its NAICS code is 5182 and its SIC code is 7373.