QuickFacts, an InsurTech startup founded in 2020 by Christy Barsalou and Jeff Barsalou, has been making significant strides in revolutionizing the insurance industry. Using cutting-edge technology, the company aims to streamline operations, enhance efficiency, and improve the overall workflow for insurance brokers and carriers. With a recent successful funding round and ambitious plans for expansion, QuickFacts is poised to bring substantial changes to the way insurance businesses operate, making them more agile and responsive to market demands.
The startup has captured the industry’s attention by closing an oversubscribed $2 million funding round led by Sandpiper Ventures. This round included significant contributions from Killick Capital and InsurTech NY, among other angel investors. This financial injection is pivotal for QuickFacts’ aggressive market expansion strategy, enabling the company to venture into new territories such as Quebec and the USA. The funding will support not only geographic expansion but also the hiring of new talent and the development of advanced technological capabilities, which are essential for sustaining its momentum in a highly competitive market.
The Story Behind QuickFacts’ Funding Success
QuickFacts has garnered an impressive array of investors, with Sandpiper Ventures leading the charge and contributions from Killick Capital, InsurTech NY, and various angel investors. The successful closure of this $2 million funding round is a testament to the industry’s confidence in QuickFacts’ vision and potential. These funds are earmarked for enabling the company’s ambitious market expansion plans, particularly targeting key regions like Quebec and the USA. The diverse pool of investors not only provides the financial backing but also brings in a wealth of industry expertise that can help steer QuickFacts toward greater heights.
QuickFacts was founded with the vision to optimize brokerage workflows by consolidating insurance carrier information into an accessible, searchable database. The company’s platform allows brokers to perform side-by-side underwriting comparisons, significantly reducing the need for underwriting calls. This innovation translates into substantial time savings—up to two hours daily for users. This proprietary tool has been a game-changer for brokers, who in 2024 alone collectively saved 228,306 hours thanks to QuickFacts. This efficiency gain frees up brokers to focus on customer service and business growth, thereby improving the overall quality of service provided to clients.
Innovative Technology Driving Efficiency
In the ever-evolving insurance industry, staying ahead requires more than just traditional methods. QuickFacts’ platform allows brokers to perform side-by-side underwriting comparisons, effectively reducing redundant workflows. The platform’s intuitive design enables it to cut the number of underwriting calls by up to 50%, saving users an average of two hours daily. This efficiency gain is not just a statistic but has real-world implications for brokers who can now redirect their attention toward more valuable tasks such as enhancing customer service and driving business development. The impressive user growth, with the platform now serving 2,500 users across 100 brokerage clients, is a testament to its impact and utility.
The startup’s technological innovation has translated into significant time savings for brokers, enabling a more streamlined and responsive brokerage environment. This efficiency gain has been particularly impactful, with QuickFacts reportedly saving brokers a total of 228,306 hours in 2024 alone. Such advancements are crucial in a sector where time is of the essence. Brokers who utilize QuickFacts can provide faster and more accurate advice to clients, thus improving overall service quality. By optimizing these critical functions, QuickFacts is setting new standards in the industry, paving the way for a more agile and efficient approach to insurance brokerage.
Strategic Market Expansion and Growth
With the recent influx of funding, QuickFacts is on a robust trajectory toward expanding its market presence and technological capabilities. The company aims to onboard four additional employees within the year, a move that is crucial for completing its Canadian expansion and exploring new product lines such as Commercial and Agricultural insurance. This personnel increase will enable QuickFacts to scale its operations more efficiently and meet the diverse needs of its expanding customer base. Further, the company is focusing on enhancing its data and artificial intelligence capabilities to stay ahead of industry changes and better serve its clients.
The strategic expansion into the US market is particularly critical for QuickFacts. The US insurance industry is highly dynamic, characterized by frequent regulatory changes and a significant number of brokers nearing retirement. QuickFacts’ technology is designed to meet these challenges head-on, ensuring that brokers can keep pace with shifting carrier guidelines and provide up-to-date client advice. The company’s focus on innovation and efficiency makes it well-positioned to navigate these complexities and capitalize on the opportunities within the US market. By leveraging its technological advancements, QuickFacts aims to set new benchmarks in brokerage efficiency and responsiveness.
Endorsements and Industry Support
Jeff Barsalou, QuickFacts’ Chief Revenue Officer, has expressed immense pride in the company’s growth and the positive feedback received from its users. Highlighting the importance of the recent funding, he emphasized that this financial support is vital for the company’s continued success and upward trajectory. On the other hand, Christy Barsalou, the company’s President and CEO, has underscored the scalability of their platform in addressing the unique challenges faced by US brokerages. Both leaders are confident that QuickFacts is well-equipped to meet the growing demands of the industry, thanks to its innovative technology and strategic expansion plans.
The endorsements from industry leaders further validate QuickFacts’ potential. David Gritz, Managing Director of InsurTech NY, has voiced strong support for the startup, pointing out the urgent need for technological solutions to simplify broker operations. This is especially crucial given the aging broker demographic in the US. Rhiannon Davies, Co-founder and Managing Partner at Sandpiper Ventures, has also commended QuickFacts for its transformative potential in streamlining underwriting and improving overall efficiency. Such endorsements from key industry figures reinforce QuickFacts’ position as a leading player in the InsurTech sector and bolster its credibility and market presence.
The Dynamic InsurTech Landscape
QuickFacts, an InsurTech startup launched in 2020 by Christy Barsalou and Jeff Barsalou, is making waves in the insurance industry with its innovative use of technology. The firm aims to simplify operations, boost efficiency, and enhance workflows for brokers and carriers alike. Following a successful funding round, the company is set for expansion and is likely to make insurance businesses more agile and responsive to market demands.
QuickFacts has gained significant industry attention by closing an oversubscribed $2 million funding round led by Sandpiper Ventures, with notable investments from Killick Capital and InsurTech NY, as well as contributions from other angel investors. This infusion of capital is crucial for the company’s ambitious market expansion plans, allowing it to explore new territories such as Quebec and the USA. The funds will not only enable geographic expansion but also support the hiring of new talent and the development of advanced technological capabilities. These steps are essential to maintaining QuickFacts’ competitive edge and sustaining momentum in a fast-paced market.