PolicyFly

PolicyFly is a comprehensive growth platform specifically engineered for the specialty insurance industry. It addresses the long-standing inefficiencies caused by fragmented systems, manual processes, and reliance on emails and spreadsheets. By leveraging modern technology and AI-driven automation, PolicyFly empowers Managing General Agents (MGAs), Coverholders, Carriers, and Syndicates to scale faster, operate smarter, and achieve sustainable growth. The platform is designed to transform every aspect of the insurance lifecycle, from the initial submission to post-bind servicing, creating a seamless, connected, and data-rich environment.

Backed by leading investors like Bain Capital Ventures and Y Combinator, PolicyFly is built on a deep understanding of the insurance world's challenges. It aims to shift the focus from tedious administrative work to high-value activities like risk evaluation and building strong agent relationships. Having already processed over $1 billion in specialty premium, PolicyFly is establishing itself as the essential infrastructure for the future of specialty insurance.

How to use PolicyFly

PolicyFly offers a streamlined, end-to-end workflow that transforms traditional insurance operations into a modern, efficient process:

1. Automated Submission Intake: Connect your email inboxes or other submission sources to PolicyFly. The platform's 'Capture' module uses AI to automatically ingest submissions from any source and in any format (e.g., PDFs, Excel, ACORD forms). It intelligently extracts and digitizes all relevant data, eliminating hours of manual data entry and preparing a clean, structured submission for the underwriter in seconds.
2. Intelligent Underwriting Workbench: Once a submission is captured, it appears in the 'Underwrite' module. Here, underwriters have a powerful workbench to enrich the submission with third-party data, collaborate with team members or external partners, and analyze the risk. The system allows for the rapid generation of multiple, robust quote options, significantly reducing turnaround times.
3. Seamless Policy Management and Servicing: After a policy is bound, the 'Manage' module streamlines all post-bind activities. This includes automating endorsements, managing renewals, and handling other servicing tasks, which reduces the back-office workload and ensures a consistent, high-quality experience for agents and insureds.
4. Real-Time Analytics and Reporting: Utilize the 'Measure' module to gain deep, real-time insights into your entire operation. Dashboards provide a clear view of submission flow, bind rates, risk performance, and portfolio trends. This data helps leadership refine pricing strategies, optimize underwriting guidelines, and identify new growth opportunities.

Core Features of PolicyFly

• PolicyFly Capture: AI-powered, automated submission intake that processes documents from any source and format, eliminating manual data rekeying.
• PolicyFly Underwrite: A robust and collaborative underwriting workbench designed to enrich submissions with third-party data and generate multiple quote options in seconds.
• PolicyFly Measure: An advanced analytics and reporting suite offering real-time insights into submission flow, bind rates, risk performance, and overall portfolio health.
• PolicyFly Manage: A comprehensive tool for streamlining post-bind servicing, including automated endorsements and renewals.
• End-to-End Automation: A unified platform that automates the entire insurance lifecycle, from initial submission and quoting to binding and policy management.
• Seamless Integrations: An API-first architecture that allows for easy integration with existing core systems, third-party data providers, and other essential tools.
• Enterprise-Grade Security: The platform is SOC 2 Type II compliant, featuring end-to-end data encryption (at rest and in transit) and mandatory two-factor authentication for all users.

Use Cases for PolicyFly

PolicyFly is tailored for various players within the specialty insurance ecosystem:

• MGAs, MGUs, and Program Administrators: Scale operations efficiently by automating submission processing, allowing underwriters to focus on complex risks and improving agent relationships with industry-leading turnaround times.
• Carriers & Insurers: Gain a significant competitive advantage by improving operational efficiency, leveraging real-time data for smarter risk selection and pricing, and expanding distribution channels without increasing overhead.
• Syndicates and Coverholders: Streamline communication and workflows with partners, access multiple markets seamlessly, and provide faster, more competitive terms to clients.
• Specialty Lines of Business: Perfectly suited for complex lines such as Transportation, Property, Liability, and Cyber insurance, where data complexity and speed-to-quote are critical.

Advantages of PolicyFly

• Accelerated Growth: Dramatically increase submission capacity and improve bind ratios to grow your book of business faster.
• Radical Efficiency: Reduce the time spent on a single submission from over 20 minutes to mere seconds, freeing up underwriters to focus on underwriting, not administration.
• Smarter Underwriting: Empower underwriters with enriched data, collaborative tools, and a holistic view of risk to make better, more profitable decisions.
• Data-Driven Strategy: Leverage powerful, real-time analytics to optimize pricing, manage risk exposure, and uncover hidden business opportunities.
• Superior Agent Experience: Become the preferred market for agents by providing instant quotes, a seamless digital interface, and unparalleled ease of doing business.

Pricing and Plans

PolicyFly operates on a customized pricing model tailored to the unique needs, scale, and complexity of each insurance organization. Pricing is determined after a detailed consultation and a personalized demo of the platform. To receive a quote and explore how PolicyFly can be configured for your business, you are encouraged to schedule a demo through their official website.