Openly
Openly is a Boston-based, tech-enabled homeowners insurance provider founded in 2017 that sells customizable premium policies exclusively through 60,000+ independent insurance agents across 24 U.S. states, using AI-powered claims automation and data-driven underwriting.
- Company typePrivate
- Founded2017
- HeadquartersBoston, United States
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Openly does
Openly is a Boston-based, privately-held homeowners insurance provider founded in 2017 that distributes customizable policies exclusively through a network of over 60,000 independent insurance agents across 24 U.S. states. The company operates as a general agency and program administrator, with policies underwritten by admitted carrier partners including Rock Ridge Insurance Company (AM Best A-) and MS Transverse Insurance Company (AM Best A) and reinsurance capacity provided by Allianz Re under an expanded 2026 partnership. Its product is positioned as premium homeowners coverage featuring up to $5M in guaranteed replacement cost, up to $1M in liability, and configurable add-ons such as $100K blanket personal property, water backup, and equipment breakdown; high-value homes are an explicit target use case.
The underlying technology stack consists of an Agent Portal for quoting, binding, and servicing, a consumer-facing online quote request feature added in April 2025, and a claims filing portal, supported by Majesco Billing on Majesco CloudInsurer as the billing core. AI capability is delivered through two third-party integrations: claimtouch (computer vision and process automation for personal property valuation, reducing claims cycle time by more than 30 days) and Kyber (NLP for automated claims correspondence, reducing adjuster drafting time by 65%). Data-driven predictive analytics underpin underwriting and competitive rate-setting.
Openly generates revenue primarily through insurance premiums and program-administration economics on policies placed through its agent network. The company has raised over $468M across disclosed rounds, with Eden Global Partners as a consistent lead investor and Allianz X as a strategic backer alongside Google-focused Gradient Ventures, Clocktower Technology Ventures, Advance Venture Partners, and Obvious Ventures. Leadership includes CEO and co-founder Ty Harris (FCAS, ex-Liberty Mutual), COO Christopher Bacon, and Executive Chairman Michael Watson, who previously scaled Canopius Group from $40M to $3.5B.
Openly firmographics
Firmographics- Name
- Openly
- Legal name
- Openly Inc.
- Website
- https://openly.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Openly is a Boston-based, tech-enabled homeowners insurance provider founded in 2017 that sells customizable premium policies exclusively through 60,000+ independent insurance agents across 24 U.S. states, using AI-powered claims automation and data-driven underwriting.
- Ownership category
- akta.pro rank
Openly industry classification
Industry- Product category
- Home Insurance
- NAICS
- Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Homeowners Insurance (FSAJACAA)
Keywords
Where Openly is headquartered
LocationHeadquarters
- HQ city
- Boston
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Openly business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Insurance Premiums: Openly generates revenue through insurance premiums paid by policyholders. Openly LLC operates as a general agency and program administrator offering homeowners insurance policies underwritten by unaffiliated carriers through its network of independent agency partners. Each insurer pays Openly for policies sold.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Quote-based homeowners insurance with variable pricing |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
Openly product offering
Product offeringCore offering
Openly provides customizable premium homeowners insurance coverage sold exclusively through independent insurance agents across 24 U.S. states. Policies offer up to $5 million in guaranteed replacement cost coverage and $1 million in liability, with flexible add-ons such as $100K blanket personal property coverage, water backup, and equipment breakdown. The company operates a technology platform that includes an Agent Portal for quoting and policy management, a consumer-facing online quote request tool, and AI-powered claims automation tools.
Product overview
Openly is a tech-enabled premium homeowners insurance provider operating in 24 states. The core product is customizable homeowners insurance sold exclusively through independent agents, featuring up to $5M guaranteed replacement cost coverage and $1M liability. The platform consists of an Agent Portal for quote and policy management, a consumer-facing online quote request system, and a claims filing portal. AI capabilities are delivered through two key integrations: claimtouch for automated personal property valuation (processing photos and converting unstructured data to structured pricing), and Kyber for AI-powered claims correspondence. The technology stack is supported by Majesco Billing on CloudInsurer for billing operations.
Differentiator
Problem solved
Functional benefit
Products and services
- Homeowners Insurance Premium homeowners insurance coverage sold exclusively through independent agents. Policies offer customizable options including up to $5 million in guaranteed replacement cost coverage and $1 million in liability, with flexible add-ons such as water backup, equipment breakdown, and $100K blanket coverage for personal property categories.
- High Value Home Insurance Coverage Premium insurance coverage specifically designed for high-value homes, offering enhanced protection beyond standard policies. Coverage includes guaranteed replacement cost protection for homes requiring more comprehensive coverage than standard market offerings.
Quantifiable outcome
- Reduces claims cycle times by more than 30 days through AI-powered claimtouch automation
- +2 more outcomes
Companies that use Openly
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles2 records
Openly technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
AI capability6 records
Feature4 records
Openly partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and supporting.
- Allianz RecoreExpanded long-term reinsurance partnership with Allianz Re to support growth and risk management efforts. Enhanced reinsurance arrangement provides additional capacity for expansion into new markets, deeper agency partnerships, and broader product offerings. Allianz Re is the reinsurance division of Allianz Group.
- MajescosupportingSelected Majesco Billing on Majesco CloudInsurer as a core component of Openly's technology platform. Partnership supports expansion and growth strategy by offering advanced billing capabilities that improve customer engagement and support market demands.
- CLAIMTOUCH ANALYTICS INC.corePartnership with claimtouch to automate personal property claims valuation. Integration combines claimtouch's AI-powered Personal Property Platform with Openly's claims management system, enabling adjusters to generate detailed contents inventories and estimates through automated, data-driven valuations. Sets new standard for accurate and efficient claims processing using machine learning and large-scale data.
- KybercorePartnership with Y Combinator-backed AI startup Kyber to automate claims correspondence. Kyber's AI-native platform enables Openly's claims teams to generate polished drafts, streamline approvals, and maintain consistent, compliant communications. Reduces adjuster drafting time by 65% and total letter cycle time by 5x.
- Clear Blue Insurance Group / Rock Ridge Insurance CompanycoreUnderwriting carrier partner. Rock Ridge Insurance Company (NAIC # 11089), AM Best A- (Excellent) rated, is an admitted insurance carrier that underwrites Openly policies in the majority of states including Alabama, Arizona, Connecticut, Delaware, Georgia, Illinois, Indiana, Kansas, Kentucky, Maine, Massachusetts, Mississippi, Missouri, New Hampshire, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, Virginia, and Wisconsin.
- MS & AD Insurance Group / MS Transverse Insurance CompanysupportingUnderwriting carrier partner. MS Transverse Insurance Company (NAIC # 21075), AM Best A (Excellent) rated, is an admitted insurance carrier underwriting Openly policies in Connecticut, Delaware, Oklahoma, Pennsylvania, Virginia, and Wisconsin.
Scale indicators4 records
Recent moves7 records
Expansion highlights6 records
Openly competitors and assessment
Company assessmentBroad incumbents
- Allstate: Allstate is a major U.S. personal lines insurer offering homeowners, auto, and life through exclusive agents and direct channels. Allstate's connection to Allianz (its former parent) also creates strategic linkage to Openly's key reinsurance partner Allianz Re.
- Liberty Mutual: Liberty Mutual is a top-five U.S. P&C carrier offering homeowners and many other lines through captive and independent channels. Openly's CEO spent 12 years there, and Liberty Mutual represents the legacy incumbent model Openly is disrupting with technology and agent-empowerment.
- State Farm: State Farm is the largest U.S. homeowners and auto insurer, distributing primarily through captive agents. It is comparable as the dominant legacy competitor in the homeowners market Openly targets, though it operates an entirely different (captive) distribution model.
Direct peers
- Branch Insurance: Branch offers home and auto insurance through an embedded, partner-driven model with technology-enabled underwriting. It overlaps with Openly in homeowners coverage and modern distribution approaches, though Branch leans more into bundling and embedded partnerships.
- Hippo Insurance: Hippo is a tech-enabled homeowners insurance provider that partners with insurance carriers for underwriting. Like Openly, it focuses on streamlining the homeowner experience with modern technology and expanded coverage, though it leans more on direct and embedded channels than independent agents.
- Kin Insurance: Kin is a direct-to-consumer homeowners insurance insurtech using data-driven underwriting. It is comparable to Openly as a technology-forward homeowners specialist, but distributes through its own D2C channel rather than independent agents.
- Frontline Insurance: Frontline is a regional homeowners insurance carrier operating across the Southeast and other states, selling through independent agents. It is comparable to Openly in product focus and independent-agent distribution, though Frontline is a direct carrier rather than an MGA.
- Lemonade: Lemonade is an AI-driven insurance carrier offering renters, homeowners, and other lines through a direct-to-consumer model. It is comparable to Openly as a tech-led homeowners insurance competitor, though Lemonade owns the underwriting entity and bypasses agents.
- Goosehead Insurance: Goosehead is an independent insurance agency franchise focused on home, auto, and other personal lines. Comparable to Openly in its reliance on the independent agent channel and homeowners coverage emphasis, though Goosehead is multi-carrier and multi-line rather than single-product.
Emerging players
- Toggle (Farmers Insurance): Toggle is a digital-first renters and small-commercial insurance brand launched by Farmers Insurance. It is comparable to Openly as an emerging tech-enabled insurance brand targeting modern distribution, though it operates under a large legacy parent and differs in product line.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Openly social profiles
Digital presenceOpenly compliance and trust
Trust signalCompliance2 records
Openly financial estimates
Financial estimateRevenue estimate
Valuation estimate
Openly leadership team
Management profileNumber of profiles
Profiles10 records
Openly funding detail
Funding detailFunding overview
Funding rounds10 records
Investors12 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Openly 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 Openly
What does Openly do?
Openly provides customizable premium homeowners insurance coverage sold exclusively through independent insurance agents across 24 U.S. states. Policies offer up to $5 million in guaranteed replacement cost coverage and $1 million in liability, with flexible add-ons such as $100K blanket personal property coverage, water backup, and equipment breakdown. The company operates a technology platform that includes an Agent Portal for quoting and policy management, a consumer-facing online quote request tool, and AI-powered claims automation tools.
Is Openly a public or private company?
Openly is a private company. It is classified as venture growth investor backed and is currently operating.
When was Openly founded?
Openly was founded in 2017. It employs 251 to 500 people.
Where is Openly based?
Openly is headquartered in Boston, United States, in the North America region.
How does Openly make money?
One revenue line is on record: insurance Premiums.
Who are Openly's main competitors?
Broad incumbents on record are Allstate, Liberty Mutual and State Farm. Direct peers are Branch Insurance, Hippo Insurance, Kin Insurance, Frontline Insurance, Lemonade and Goosehead Insurance. Toggle (Farmers Insurance) is listed as an emerging player.
Does Openly have an API?
No public API is recorded for Openly.
What industry is Openly in?
Openly's product category is Home Insurance. Its primary akta.pro industry code is FSAJACAA, Homeowners Insurance. Its NAICS code is 5242 and its SIC code is 6411.