Gore Mutual invests in digital insurance distributor BrokerLift

Canadian property and casualty insurer Gore Mutual Insurance Co has provided seed-stage funding to BrokerLift Inc, a Toronto-based turnkey e-commerce platform that enables insurance brokers to compete with other online distribution channels. The investment, the value of which was not disclosed, is intended to accelerate adoption of the company’s solution among brokers. As part of the deal, Gore has negotiated an incentive for its broker network to join BrokerLift’s platform with no set-up fees. BrokerLift was launched last July by Thomas Accardo and Behzad Salehoun.


Gore Mutual makes capital investment in tech start-up BrokerLift Inc.

CAMBRIDGE, ON, March 2, 2016 /CNW/ – Gore Mutual is furthering its commitment to digital broker distribution with a capital investment in Toronto-based technology start-up BrokerLift Inc. BrokerLift is a fully turnkey eCommerce platform designed specifically to enable insurance brokers to compete effectively with other online distribution channels.

As part of their investment, Gore Mutual has negotiated an incentive for its broker network to receive full BrokerLift platform integration with no set-up fees. BrokerLift will work with these and other brokers across Canada to integrate online quoting, credit card payment and electronic document delivery, with a range of products provided by leading insurance companies, directly into their existing website.

Paul Jackson, VP Distribution at Gore Mutual said: “We’re an ambitious, growing company, committed to broker distribution. Investing in BrokerLift is a natural next step to bring a competitive broker eCommerce solution to the market. This industry leading technology will enable brokers to attract new customers, build loyalty and expand profits through efficient ecommerce.”

Anna McCrindell, VP Underwriting at Gore Mutual said: “BrokerLift already has strong experience in the digital broker space and their platform is designed and built for the rigid regulatory requirements of our industry. Our investment enables BrokerLift to accelerate adoption, and we’re pleased to provide two launch products aimed at renters and microbusinesses.”

“We’re thrilled that Gore Mutual has invested in our business because they are known for supporting true partnerships with brokers,” said Thomas Accardo, Co-founder of BrokerLift. “Digital innovation is a cornerstone of Gore Mutual’s strategy and their investment in BrokerLift will enable hundreds of brokers of all different types and sizes to move quickly and seamlessly to an ecommerce solution.”

BrokerLift currently supports 6 products from 3 different Insurance companies with a goal of supporting well over a dozen by the end of 2016. “Consumer behaviour is changing quickly and eCommerce will be critical in servicing customers who demand 24/7 convenience to purchase their insurance products. It’s not just the big guys who can offer this,” said Co-founder Behzad Salehoun.

To that point, Paul Jackson added: “BrokerLift is independent and focused on creating broker-centric solutions. I encourage other insurance companies that support the broker channel to consider how their own products can plug into this innovative platform.”

About BrokerLift Inc.
BrokerLift provides a turnkey eCommerce platform for insurance brokers to instantly enable online sales and service to their customers. As a purpose-built managed Software as a Service (SaaS) solution for the insurance industry, the BrokerLift platform features both highly secure and completely flexible technology. BrokerLift is fast becoming the eCommerce partner of choice for Insurance Companies. To learn more, go to www.brokerlift.com.

About Gore Mutual Insurance Company
Founded in 1839, Gore Mutual is Canada’s oldest property and casualty insurer, with approximately $400M in premiums and $1BN in assets as at December 31, 2015. Based in Cambridge, Ontario and Vancouver, British Columbia, this Canadian-owned and operated mutual company employs over 300 people and is known for its investment in people, technology and innovation. With a long standing commitment to genuine personal service, and with digital solutions such as uBiz and BrokerLift, Gore Mutual is an unwavering supporter of its network of insurance brokers, who offer the highest standards of service, choice and advocacy to Canadian customers. Gore Mutual was voted the #1 insurance company by the Insurance Brokers Association of Ontario (IBAO) in 2014 and certified as a “Great Place to Work” in 2016. The Gore Mutual Foundation strengthens Canadian communities by supporting local initiatives and has donated more than $5M to over 550 charities. Learn more about Gore Mutual at goremutual.ca.

For further information: MEDIA CONTACT: Dean McNeill, Corporate Communications Manager, 519-623-1600 or 1-800-265-8600, ext. 2299, Email: dmcneill@goremutual.ca

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