As seen in Insurtech Insights

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Talage Inc. is an insurtech to its core – both in function and name. The Reno, Nev.-based software platform designed to help small business owners compare and quickly purchase a range of commercial insurance policies announced this week that it has secured $1.5 million in funding from its first institutional investment round from partners Merus Capital, Battle Born Ventures, Acceleprise and Western Technology Investment.

Described as a Kayak-type platform that offers price comparison and shopping, the firm has partnered with eight insurance carriers including Chubb, Employers, Travelers and Markel and is gearing up to expand from 44 states into all 50 states plus Washington, D.C. Small businesses can go online and purchase property, liability or workers’ compensation insurance. The firm’s software then identifies other needs the buyer may have, and an agent will then make contact to talk about other polices.

“We’re fully committed to the insurance agency model,” said Adam Kiefer, who founded the firm in 2015 with partners Matt Donovan and Zachary Draper. “We just want to make it more efficient and bring it up to speed.” Kiefer previously worked for Employers, a large workers’ comp carrier in Nevada and one of Talage’s carrier partners. He also has a background in banking. Donovan and Draper both have a tech backgrounds.

Kiefer said he made the decision to launch an insurtech after he realized it was getting harder to sell policies to small businesses, which he felt were no longer being well served by agencies. “Over the last 10 years we stared the watch the channel deteriorate,” he said “The small business owner was kind of being left behind in the process.”