Joyn Insurance's partnership with Commit allowed the company to launch its platform amidst a downturn of insurtech investments.
“I’ve argued for many years that the insurance industry is ripe for transformation and the team that Joyn has assembled is changing the game for insurance in ways that are long overdue,” said Brian Duperreault. “Seraina Macia is one of the most dynamic and forward-thinking leaders in insurance today and the product that her team has created will be the future of this industry. I am honored to be able to play a part in Joyn’s future.”
Rapidly growing SME and E&S insurtech Joyn has added industry legend and former AIG and Marsh McLennan CEO Brian Duperreault to its board of directors, the latest prominent move by the MGA following the appointment of Jim Hackbarth as its first independent director earlier this month, The Insurer can reveal.
The chief executive of E&S-focused insurtech MGA Joyn told The Insurer that after securing her firm’s nearly $18mn Series A funding round earlier this month the company plans to rapidly scale in the year ahead, including raising headcount and executing on ambitious growth targets.
“One of the trends that we’re pushing is that we’re saying, ‘We have a different operating model, and we won’t need as many people because we can leverage the technology…'” [Seraina Macia] said. “And hopefully you’ll see other industry participants pushing the lever of true automation and integration so that we, as an industry, can kind of raise the bar on ourselves and reduce the costs.”
The new funding, which brings the company's total raised to more than $30mn, will be used to further enhance its technology platform and data capabilities.