Openly Expands Allianz Partnership and Closes Growth Investment Round to Scale U.S. Footprint

BOSTON--(BUSINESS WIRE)--Openly, a tech-enabled homeowners insurance provider, today announced the close of a growth investment round led by existing investors Eden Global Partners, Advance Venture Partners, and Gradient, with strategic participation from Allianz X. In addition, Openly expanded its long-term reinsurance partnership with Allianz Re. Together, these growth initiatives will accelerate Openly’s expansion as independent agents increasingly seek innovative, high-quality providers with the technology and underwriting discipline to grow with them.

Since its inception in 2017, Openly has committed exclusively to serving independent agents and their customers by offering a scalable technology platform that provides agents with a fast quoting process and homeowners with high-quality protection and customer service. The combined capital and reinsurance structure from this round fortifies Openly's balance sheet, supporting continued expansion. The round will enable Openly to accelerate growth into additional states, deepen agent partnerships, and expand its product offerings, thereby empowering more independent agents to deliver robust insurance solutions tailored to their clients' personalized insurance needs.

"Independent agents are the cornerstone of Openly's business model," said Ty Harris, Co-Founder and CEO of Openly. "With over 60,000 agent partners across 24 states, we've demonstrated the effectiveness of our approach. This strengthened partnership with Allianz Re, alongside continued support from our investors, accelerates that commitment: more states, more products, and a stronger platform for every agent who chooses to build their book with us.”

"Openly is revolutionizing homeowners insurance with a disciplined, scalable underwriting model that emphasizes rigorous risk selection, precise pricing, and consistent portfolio management—yielding strong loss ratio results despite high natural catastrophe activity in the US in recent years," said Niklas Mundorf, Senior Manager at Allianz X North America. "In a challenging market, Openly exemplifies how growth and responsibility can coexist, which is why we are deepening our commitment to elevate Openly and better serve this key market segment."

The investment and expanded reinsurance partnership arrive as the homeowners insurance market reaches a pivotal moment. Carriers and providers with high quality reinsurance capacity and strong underwriting discipline, like Openly, are well-positioned to lead the market's next phase.

Openly was advised by Ardea Partners LP as financial advisor on the transaction.

About Openly

Openly is a premium homeowners insurance provider. Its centralized platform offers comprehensive coverage, market-leading technology, and exceptional service. Founded by industry veterans in 2017, Openly is dedicated to delivering modern and transparent homeowners insurance and empowering independent agents across America. For more information, visit Openly.com or stay connected on LinkedIn.

About Allianz X

Allianz X is the strategic investment arm of the Allianz Group, dedicated to keeping the leading global insurer and asset manager at the forefront of the industry. By making and actively managing high-conviction investments in companies with exceptional growth potential and forging unique partnerships between them and Allianz, Allianz X enables transformative collaborations, builds platforms, and unlocks value for the Group.

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