From there, take a proven insurance product (premium home insurance), provide better coverage along a few axes, digitize it, quote it faster, and enable independent agents to close deals faster. Their thesis is simple: focus on a high-retention, low-volatility consumer segment (rich families) and an overlooked distribution channel (independent agents). But while these new-age insurtech companies are pouring millions into marketing, there’s a quiet startup called Openly, fresh off a $40m Series B led by Advance Venture Partners, lurking in the insurance back-channels, taking (what they believe to be) the least risky path to becoming a billion-dollar home insurance company. Home insurtech companies Lemonade ($LMND) and Hippo are attracting a lot of the hype with their recent offerings and sky-high valuations.