Allstate Strategic Ventures

New insurance models are disrupting a centuries-old industry with a focus on personalization and convenience

InsurTech: Personal Lines

Matic is a free insurance marketplace that allows its customers to compare coverage and rates from a network of more than 40 A-rated home and auto carriers and distribution partners in industries ranging from mortgage origination, servicing, and banking to automotive organizations, real estate, etc. The company’s agents are based in Columbus, Ohio and Phoenix, Arizona, and the insurance agency is fully licensed in all 50 states in the US.Customers are required to fill out an online form to get matched with the most suited carrier and to receive a quote, after which customers can review the quotes and compare coverage options and purchase the policy directly online by electronically signing an application or working with a licensed advisor over the phone. Insurance carriers pay Matic a commission when customers switch policies. Matic’s advisors are not paid based on the premium paid by customers.In October 2023, Matic reported that it has achieved an average revenue growth of more than 100% over the past five years. It also claims that its bottom line has improved by over 60%, driven by its recurring revenue model.Key customers and partnership&nbsp;Matic Insurance’s partners include top lenders, banks, and services providers, who are collectively responsible for processing 20% of US home loans. In <a href="https://sp-edge.com/updates/28660">April 2024</a>, it partnered with USA mortgages to integrate its property and casualty insurance marketplace into the latter's home lending platform.

Kinetic is ushering in the next generation of mobility by building a modern infrastructure with a holistic system of hardware, robotics, software, and AI to revolutionize all aspects of the automotive repair industry. Kinetic's precision systems, powered by machine learning and software, are designed to provide rapid, accurate, and predictable maintenance and servicing for electric and autonomous vehicles.

Since 2014, Matic has changed the landscape of the insurtech industry by integrating insurance within the home and auto ownership experience. Today, Matic’s digital insurance marketplace has 40+ A-rated home and auto carriers, as well as distribution partners in industries ranging from mortgage originations and servicing to banking, real estate, personal finance, and more. With a single-minded focus on advocating for policyholders, Matic has created an easy and transparent comparison shopping process, saving customers hours of work and over 30% in premiums each year.

The growth in code volume, variety and velocity make code automation essential. Software is composed of more third-party components than ever, and the pace of change continues to accelerate. This has made software maintenance harder but also more repeatable and amenable to automation. Keep up-to-date with API changes, fix vulnerabilities, and improve code quality. Moderne automates these changes on codebases of hundreds of millions of lines of code in seconds.

Prevailion is the world’s first data intelligence platform that provides exclusive access to active, confirmed cyber compromises impacting tens of thousands of organizations around the world.  Infection from third parties is a huge risk and blind spot due to scope and lack of visibility. Adversaries target the weakest link in any ecosystem. When high-profile organizations increase security and close loopholes, attackers shift their focus to their vulnerable third parties.  Discover and track historical and active cyber contagion impacting your third party ecosystem. It’s not vulnerability or risk intelligence, but actual, confirmed evidence of compromise.

Amenity Analytics has built a leading edge text analytics platform that allows customers to identify actionable signals from unstructured data. Using our offering business professionals can extract insights from today’s information overload.

Allstate Strategic Ventures invests in early stage startups that provide investment and business value to Allstate Insurance Company. The firm is active across a continuum of corporate private equity investing, from providing capital to growth-stage companies to participating in control transactions for mature businesses. It provides equity capital to experienced managers raising traditional funds and to highly capable sponsors of direct transactions. Typical investments range from $15 to $100 million.

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