InsurTech Spotlight: Foxquilt

Foxquilt

Company: Foxquilt

Website: www.foxquilt.com

Business Category: An insurance practitioner (insurer, MGA, broker, agent)

Maturity Status: Startup (less than 3 years since product went into production)

Product or Service: Foxquilt Home & Business Insurance

Area: Property & Casualty Insurance

Foxquilt is a Canadian financial technology company focused on using big data and machine learning to empower social groups to save on Home, Small Business and Auto insurance. We create new value opportunities for customers by bringing people and communities together online with a smart and modern approach to insurance. Leveraging innovative technology and creating unique products, we make it easy for customers to buy insurance online from leading carriers and access group purchasing power. Foxquilt customers achieve savings upfront on premiums, reduced deductibles and are rewarded with further savings at renewal.

What makes us an InsurTech:

Our business model and technology focuses on segmenting, targeting and underwriting profitable risks that tether to the preferred carrier appetite. We digitally mapped and automated a dynamic customer journey allowing customers to simply select a group that they belong to and leverage Foxquilt’s technology to take them upstream very quickly to a predicted, pre-defined product and market that offers them the best, valued coverages.

Our underwriting model, armed with rich data partnerships, enables quick and easy service. Whether you are a passionate “Pet Lover” searching for better home insurance or a proud “Stone Mason” on the quest for cheaper business insurance, Foxquilt has developed the technology and product offering that harnesses group buying power. Moreover, our platform provides us with the capabilities to continue our leadership role in innovating new, customer-centric insurance products.

Major features & technology used:

Foxquilt is focused on using big data, machine learning and predictive pre-underwriting analytics to empower social groups to save on Home, Small Business and Auto insurance.

News & Updates

See the latest Foxquilt news.

About Foxquilt

At Foxquilt, we are focused on using the power of social groups to help save on Home, Business and Auto Insurance. We bring people together with a modern and clever approach to insurance that rewards customers using the power of group purchasing. For more information, please visit www.foxquilt.com.

Source: Foxquilt

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