Hi Marley Raises $25M to Revolutionize Insurance Communication with AI

Modernizing Insurance Communication with Hi Marley

Filing an insurance claim can often be a frustrating experience. Individuals frequently encounter lengthy hold times when attempting to connect with a representative. Furthermore, the process of managing auto or home insurance claims often involves considerable back-and-forth communication with both the insurance provider and various service vendors, consuming significant amounts of time.

Hi Marley's Innovative SMS Platform

Hi Marley, a Boston-based startup, is dedicated to transforming communication within the insurance industry. They provide insurance carriers with a method to communicate with policyholders seamlessly through text messaging. The company recently secured $25 million in Series B funding to facilitate the expansion of its SMS platform.

The Hi Marley platform also integrates other relevant parties into the communication process, such as auto repair shops and rental agencies. This approach aims to enhance policyholder satisfaction and reduce customer attrition, while simultaneously accelerating the claims resolution process.

Platform Architecture and Integration

Hi Marley functions as a platform comprised of applications, APIs, and an intelligent layer. This system integrates with core insurance systems like Guidewire and Duck Creek, delivering crucial insights to carriers, as explained by CEO and co-founder Mike Greene.

According to the company website, Hi Marley’s messaging solution is designed to streamline communication related to claims, underwriting, and policyholder service. It connects all parties involved in the insurance process into a single, real-time conversation.

Growing Demand and User Base

The demand for such a service is evident, and the shift towards digital interactions accelerated by the COVID-19 pandemic has further increased consumer demand for innovative communication methods. Last year witnessed a doubling in the number of carriers utilizing Hi Marley’s platform, accompanied by a fourfold increase in its user base, Greene reported.

Currently, the startup serves over 40 customers, including prominent names such as American Family, MetLife, Auto-Owners, Erie, and MAPFRE.

A Focused Approach to Communication

“Unlike generalized chat solutions, we concentrate on the complete communication infrastructure across the insurance enterprise for both our carriers and their partner ecosystems,” Greene stated to TechCrunch.

Founder's Experience

Mike Greene brings substantial experience to the table, having worked within the insurance sector for many years. He previously co-founded and led Futurity Group, which was subsequently acquired by AON, a company specializing in software and services for performance monitoring and improvement in the P&C insurance industry.

Series B Funding Details

Emergence Capital spearheaded the Series B funding round, bringing Hi Marley’s total funding since its 2017 launch to $41.7 million. Existing investors, including Underscore, True Ventures, Bain Capital Ventures, and Greenspring, also participated in the financing, alongside new investors like Brewer Lane.

Vision for an Industry Cloud

Gordon Ritter, Founder & General Partner at Emergence Capital – and now a member of Hi Marley’s board – shared that his firm has been actively seeking the next leading industry cloud company within the insurance vertical “for some time.”

“Similar to how Veeva expanded from CRM to additional software solutions powering the pharmaceutical industry, we remain optimistic about startups developing vertically-focused solutions capable of supporting an entire industry,” Ritter explained.

The Future of Insurance Interactions

Historically, insurance has often been perceived as an unavoidable expense, a purchase made solely for safety and security. Ritter believes that carriers employing outdated communication strategies risk experiencing a decline in performance in today’s landscape.

“Many of us have likely had less-than-satisfactory, even unpleasant, experiences when dealing with insurers during times of need,” Ritter noted, adding that he has personal connections to the insurance industry. “However, Mike aims to change this perception; his goal is to make insurance appealing. A new communication framework between carriers and their ecosystem, benefiting end customers, is essential.”

Future Plans

Hi Marley intends to utilize the newly acquired capital to develop new features, ensure the platform’s scalability across the enterprise, and expand its team through strategic hiring.

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