We started the year with great delight as we announced our Series A fundraise round led by OMERS Ventures with participation from Avanta Ventures, ManchesterStory, Cohen Circle, SiriusPoint and several private individual investors. We are thrilled to have such world class partners on board as we continue showing our growing number of brokers and customers what a technology-powered, joyful insurance experience in the E&S market can look like.
While this is a major accomplishment for an insurtech company on its own merits, that it comes at a time when many other young companies in our space are experiencing difficulties is an outstanding proof point that we are on the right path and have a product many in our industry are clamoring for.
We were proud to announce the naming of two insurance industry icons—Brian Duperreault and Jim Hackbarth—to Joyn’s board as our first independent directors. We simply cannot overstate how honored we are that both Brian and Jim agreed to join us and how much their expertise and relationships will play a role in our efforts to build the future of insurance.
For those who may be unfamiliar with them:
Brian is quite simply an industry icon who previously served as Executive Chairman for AIG’s Board of Directors and as CEO of AIG from 2017 to 2021. Before that, he built Ace, led Marsh to its greatness, and is a true visionary who believes in our mission and our value proposition. Jim, too, is an industry staple; in his last position as President and CEO of Assurex Global, he oversaw the world’s largest privately held risk management commercial insurance brokerage group—a company that generated more than $30 billion in revenue to the insurance industry.
Having independent directors adds an important perspective to the board as they make their decisions about Joyn’s future, and in particular, having independent directors of the caliber of Brian and Jim—two highly respected industry veterans—is going to be a major asset.
I can’t write about the quarter without talking about our team. Our Joyners continue to amaze me every single day. Their drive for delivering on our value prop and passion for continued evolution and improvement are the elements that make me proud. For certain, building a business from scratch is not easy. It requires perseverance and unwavering faith in your vision as you delicately balance the prioritization of both near and long-term goals. This includes dealing with much higher than anticipated volume of submissions coming in the door while at the same time constantly evaluating ways to improve process without immediately adding new team members and above all make sure we meet our value proposition vis-à-vis our growing number of trading partners. After all, as an Insurtech, we set out to build a new kind of insurance company with a different operating model that empowered by automation & data.
We built Joyn to integrate insurance, data, and technology expertise, providing a faster, more accurate, and more transparent experience that saves time, costs, and frustration. Today, Joyn offers E&S coverage for property, general liability, and excess for companies across more than 700 NAICS codes in 36 states and Washington, D.C.
If you are ready to learn more about how Joyn can work with you, reach out to [email protected].