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In August, 2024, Walnut Insurance announced their latest fundraise, $4.6M led by NAventures, TELUS Global Ventures, Diagram Ventures, Portage and us. Highline Beta first invested in Walnut back in late 2020 when the company was first getting started. The company is now poised to scale significantly as it accelerates efforts to modernize and streamline insurance distribution.
We’ve always believed that the future of insurance is personalized, embedded and data-driven. Walnut is bringing that to life. Their solution:
Walnut’s platform enables partners to quote and enroll customers into almost any insurance product in real-time within co-branded consumer experiences, advisor driven processes or headless via API. Walnut offers a flexible and efficient solution for integrating insurance into various digital ecosystems within 30-90 days where typically this can take years. This comprehensive approach ensures a seamless multi-channel delivery, enhancing the customer experience and leading to effective product delivery.
For insurers and brokers, Walnut’s platform provides significant benefits, such as the ability to profit share versus front-loading marketing costs, improving risk management, and unlocking untapped channels. Partners benefit from increased ARPU (Average Revenue Per User), deeper relationships with their customers, and a reduction in churn. For consumers, Walnut’s solution ensures they receive insurance at the right time with reduced effort to purchase, facilitated by data-driven processes and consolidated brand experiences.
Here are a couple great examples of Walnut’s work:
We continue to support the leadership team, Derek Szeto, Adrien Niblock and Jil Macdonald (along with the entire Walnut team) because they’re solving meaningful pain points in an easy and sophisticated way. The company is moving quickly and becoming an industry leader in embedded insurance.
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