Openly

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.

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

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

• Homeowners insurance
• Independent agent platform
• Insurance technology
• Claims automation
• Property insurance

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. 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

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core 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

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability6 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and supporting.

• Allianz RecoreStrategic or Co-development Partner · 23 April 2026Expanded 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.
• MajescosupportingTechnology or Integration · 22 March 2026Selected 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.coreTechnology or Integration · 24 February 2026Partnership 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.
• KybercoreTechnology or Integration · 8 February 2026Partnership 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 CompanycoreStrategic or Co-development PartnerUnderwriting 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 CompanysupportingStrategic or Co-development PartnerUnderwriting 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

Broad 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

• Xx.com/openlyllc
• Facebookfacebook.com/openlyllc
• LinkedInlinkedin.com/company/openlyinc

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds10 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Openly