InsurTech platform Bindable has pulled in undisclosed funding to support its growth and development initiatives.
This investment was supplied by EPIC Holdings and was made in conjunction with Motive Partners.
As part of the deal, EPIC has entered an agreement which sees Bindable provide a turnkey software solution to EPIC and its affinity business. This service will aim to improve customer engagement via technology and boost product diversification and market growth.
Boston-headquartered Bindable provides insurance companies, intermediaries and affinity groups with a selection of digital products and services. Its services include a customisable multi-product insurance program to help insurers give insurance quotes to consumers, from pet insurance to home cover.
The company also offers a digital agency solution and an agent facing enrolment platform and CRM for distribution and cross-sell.
Bindable co-founder and CEO Bill Suneson said, “We’ve built our platform to transform the distribution of insurance through sponsored channels and we’re pleased to partner with EPIC, Motive Partners and Wafra to not only support our vision but also provide the strategic capacity to help us drive that change.
“We seek to enable the insurance industry to better serve customers through preferred channels and this new capital will help us realise our vision.”
Last month, Motive Partners completed a deal for a controlling stake in Germany’s LPA. The company offers a suite of technology solutions for automating advice, distribution and documentation for financial institutions.
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