Techficient receives strategic investment from Ash Brokerage, Legal & General America
Techficient Holdings LLC, an Insurtech startup formed in 2020 to bring its industry leading case management platform, data-driven analytics and insurance quoting platform to market announced today that it has completed its series A investment round with strategic investments from Ash Brokerage, the largest privately held Brokerage General Agency in the United States, and Legal & General America (LGA), one of the largest insurance carriers in the world.
“The investment from Ash and LGA allows Techficient to bring our CORE case management platform, our data analytics solution, and our Dynamic Quoting platform to the insurance industry with both distribution and carrier support” said Techficient CEO, Scott Fergusson. “Our focus is using data analytics to transform the way distribution and carriers service their customers and improve their business.”
Ash Brokerage, as one of the largest insurance distributors in the country, originally developed Techficient’s case management system to address the unique needs of the distribution business, and funded the development of both Techficient’s data analytics and Dynamic Quoting platforms. “Ash Brokerage has a strong track record of innovation that is centered around taking care of customers and impacting lives” said Ash Brokerage CEO, Tim Ash. “By bringing these technologies to market, the tools and the industry will get even better.”
Legal & General America, the United States division of United Kingdom-based Legal & General Group covered more than 100,000 lives in the United States last year alone. LGA’s investment and strategic partnership with Techficient centers around the Dynamic Quoting platform the company has developed and Horizon, the insurance application platform that LGA built, based on the UK’s instant issue model. “In Techficient we see the future of how term life cover will be discovered and sold” said Mark Holweger, LGA’s CEO. “Our Horizon platform simplifies and reduces the complexity in applying for cover and is a perfect integration point for Techficient.”
Financial terms were not disclosed. Techficient is a wholly separate company from both Ash Brokerage and LGA.