A single-entry market access solution for P&C agents, XAGENT has closed a $2.1 million seed funding round, with considerable contributions from top agencies including NFP.
The principals of several major insurance agencies helped spearhead the funding, including NFP CEO Terry Scali and Insgroup CEO Brian Kapiloff. Following the recent seed funding round, Scali will be joining XAGENT’s board of directors.
“NFP believes that the XAGENT platform will significantly accelerate business for P&C insurance agencies and we didn’t want to pass on the opportunity to have a stake in it,” said Scali. “We’re excited to be on the ground floor of what we think will be a game changer for our agency and the industry.”
“The XAGENT platform fills a void in the industry by connecting electronically to multiple carrier systems for faster, easier, and more consistent rating, quoting, and binding for commercial lines,” added Kapiloff.
XAGENT is described as being “built by agents, for agents, and delivers on the promise of a truly independent single entry multi-quote exchange for business insurance.” Hundreds of agencies are already using it to save time and bind more business.