Bindable

Bindable is a technology company that specializes in Insurance-as-a-Service solutions, enabling the seamless integration of property and casualty insurance into existing business models through innovative distribution channels. Founded in 2018 and headquartered in Boston, US, Bindable offers a platform that empowers clients to embed insurance products into their services. The company has engaged in one investment deal as of November 27, 2019, where it raised an undisclosed amount led by Motive Partners, along with participation from Edgewood Partners Insurance Center, Inc. and Wafra Partners.

Bill Suneson, a co-founder with previous industry experience, serves as the CEO. Bindable specializes in delivering Insurance-as-a-Service solutions and embedded insurance technologies aimed at simplifying the distribution and sale of property and casualty (P&C) insurance. The core offerings include a configurable platform that empowers carriers, agencies, and brands to seamlessly integrate insurance products into their existing ecosystems. By focusing on alternative distribution strategies, Bindable enables clients to provide personalized insurance coverage directly to consumers during relevant touchpoints.

This approach enhances customer engagement and loyalty, addressing the evolving expectations of modern consumers. Key clients include insurance carriers and brokers across various sectors, as well as trusted brands seeking to expand their service offerings. Bindable's products are primarily marketed and sold in North America, with an emphasis on adapting to the digital-first landscape. Bindable generates revenue through partnerships and collaborations with insurance carriers, brokers, and agencies who utilize its technology to enhance their insurance distribution capabilities.

The transaction structure typically involves B2B partnerships where clients pay for access to Bindable's platform and services, which may include white-label agency services and API integrations. Clients benefit from a streamlined process that allows them to offer a variety of insurance products from leading carriers, thereby increasing their revenue potential. Bindable’s flagship products, including the Policy Crusher® and digital agency solutions, are designed to eliminate operational complexities and facilitate efficient insurance transactions. The revenue model supports a diverse range of pricing plans tailored to the specific needs of each client, focusing on delivering value through innovative distribution strategies.

Moving forward, Bindable aims to enhance its product offerings, with potential new solutions currently in development. The company plans to expand its reach into additional markets, specifically targeting regions that are seeing growth in digital insurance integration. The funding raised in November 2019 will support these initiatives and further strengthen its technology infrastructure, enabling Bindable to advance its market position and address growing client demands.