Foxquilt Insurance Services Inc.

Foxquilt Insurance Services Inc. , based in Ontario, Canada, specializes in customizable commercial insurance solutions tailored for small businesses, including eCommerce sellers and contractors, providing them with essential protection against various operational risks. Foxquilt Insurance Services Inc. is focused on offering tailored insurance solutions for small businesses.

Founded in 2016 in Toronto, Canada, by Karim Jamal and Mark Morissette, the company has conducted 5 deals, with its most recent funding round being a Series B in July 2023, raising CAD 10 million. Mark Morissette serves as the CEO. Foxquilt specializes in providing customizable commercial insurance solutions tailored specifically for small business owners, including eCommerce sellers, contractors, and personal trainers. Their core offerings revolve around Business Liability Insurance, designed to protect businesses against various risks and liabilities they may encounter in their operations.

The insurance policies are flexible, allowing clients to select only the coverages that benefit their particular business needs, thus avoiding unnecessary costs. Foxquilt's services feature a streamlined online experience, enabling customers to obtain quotes, purchase policies, and receive documents instantly on any device, regardless of the time. The company primarily targets markets in both the United States and Canada, ensuring its offerings meet the diverse needs of businesses in these regions. Foxquilt generates revenue through the sale of its customized insurance policies, engaging directly with business clients in a B2B model.

Clients can secure their insurance coverage through a straightforward online platform that allows them to answer a few questions about their business and receive an instant quote. Once a policy is selected, customers can complete the purchase online and receive their documentation promptly via email. The company’s pricing structure is designed to provide competitive rates, making it an attractive option for small business owners seeking affordable coverage. Although specific pricing details of individual products or services are not disclosed, the emphasis on tailored coverage indicates a focus on value-based pricing in their offerings.

In July 2023, Foxquilt Insurance Services Inc. raised CAD 10 million in Series B funding, which will be utilized to support business expansion and increase market reach. The company plans to develop new products designed to enhance its service offerings further and is exploring expansion into new geographic markets to better serve a wider range of small businesses.