Insureon is a technology company.
Insureon has raised $31.0M across 1 funding round.
Insureon has raised $31.0M in total across 1 funding round.
Insureon has raised $31.0M in total across 1 funding round.
Insureon's investors include Armilar Venture Partners, Balderton Capital, Beringea, Citi Ventures, Draper Triangle, Greylock, Innovation Works, Oak HC/FT, PruVen Capital, Sapphire Ventures, Starburst Ventures, The Founder Coach.
Insureon is an insurtech company operating the largest online marketplace for small business insurance in the U.S., enabling owners to compare quotes, purchase policies, and manage coverage digitally from top-rated carriers. Headquartered in Chicago and part of HUB International since its 2022 acquisition, Insureon serves small and medium-sized businesses across 900+ industries, including tech professionals, by streamlining access to affordable policies like general liability, workers' compensation, cyber liability, and technology errors & omissions.[1][2][3][5][6] It has delivered over 1.8 million policies to more than 450,000 customers, written $2.8 billion in premiums, and maintains integrations with 40+ carriers such as The Hartford, Chubb, and Hiscox, all while licensed in every state.[1][3][4] The platform's redesigned universal application further expedites quoting in seconds, solving the problem of complex, time-consuming insurance procurement for America's smallest businesses.[1]
Insureon's roots trace back to 1997, when TechInsurance Group was founded to help small technology businesses obtain insurance easily online—a pioneering move in digital insurance distribution.[1][2] In 2011, TechInsurance launched Insureon as a broader online destination for small business owners across 900+ industries, expanding beyond tech to become the #1 digital agency.[1][2][4] Key milestones include the 2014 acquisition of Insurance Noodle, a digital wholesale brokerage from Willis Group Holdings, which bolstered its capabilities; by 2015, it had insured over 175,000 businesses.[1][2] Dan Kazan joined as CEO in 2019, followed by accolades like Insurance Business America’s 5-Star Insurance Technology Provider Award in 2021.[2] A pivotal shift occurred in 2022 when HUB International acquired Insureon’s digital agency, while Bold Penguin bought its technology platform, ensuring seamless customer service under HUB's scale.[2][5] Recent traction includes A+ BBB accreditation in 2025 and back-to-back "Best Places to Work in Insurance" awards in 2024 and 2025, with double-digit YoY growth and turnover under 5% post-acquisition.[1][5][6]
Insureon's edge in the insurtech space stems from its tech-driven model tailored for small businesses:
Insureon rides the insurtech wave digitizing a traditionally fragmented $300B+ U.S. small business insurance market, democratizing access amid rising cyber threats and remote work trends. Its timing aligns perfectly with small businesses' shift to online tools post-pandemic, where 77,000+ policies were issued in 2022 alone, capitalizing on demand for affordable, specialized coverage like cyber insurance for tech firms vulnerable to data breaches.[1][4][7] Market forces favoring Insureon include insurtech consolidation (e.g., HUB acquisition) and regulatory pushes for digital efficiency, positioning it to influence the ecosystem by licensing its platform and partnering with carriers/non-profits to empower underserved owners.[2][3][5] As a Chicago-based pioneer, it sets benchmarks for low-friction insurance tech, fostering small business resilience in a startup-heavy economy.[3][5][6]
Insureon is poised for sustained expansion under HUB, leveraging AI-enhanced quoting and product diversification to capture more of the small business market amid escalating risks like cyberattacks. Trends like embedded insurance and real-time underwriting will shape its path, potentially boosting premiums beyond $2.8B through deeper carrier integrations and global brokerage synergies.[1][6] Its influence may evolve by exporting tech to larger brokers, solidifying its role as the go-to digital gateway for small business protection—echoing its 1997 origins in making insurance as simple as e-commerce.[1][2][3]
Insureon has raised $31.0M across 1 funding round. Most recently, it raised $31.0M Series B in October 2015.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2015 | $31.0M Series B | Armilar Venture Partners, Balderton Capital, Beringea, Citi Ventures, Draper Triangle, Greylock, Innovation Works, Oak HC/FT, PruVen Capital, Sapphire Ventures, Starburst Ventures, The Founder Coach, Waverley Capital, David Haywood Smith, Errol Damelin, Ian Hogarth, Jared Kopf, Kevin O'Leary, Michael Birch |