At-Bay acquires Relay
At-Bay announced the acquisition of Relay Platform, a single-entry multi-carrier quoting solution with a focus on cyber insurance.
Founded in 2018 following a collaboration between American Family Insurance and venture studio Highline Beta, Relay originally targeted the reinsurance space with a risk placement offering. In 2020, the company received $3 million in funding from NFP Ventures, American Family, Highline Beta, and others, and in 2021, Relay announced a $5.2 million round.
Relay will continue to serve “a growing list of brokers and partners” as an independent entity, under its own management team.
“Brokers are hungry for better service and streamlined workflows from their partners, which technology can transform. Far too often, they are held back by outdated processes and systems. Relay has built an innovative digital marketplace, tailored to the needs of brokers. By enabling it to focus all its efforts on serving brokers and their key partners, we believe it will deliver maximum benefit to the ecosystem and create the go-to marketplace for brokers in SMB specialty insurance.” – Rotem Iram, co-founder and CEO of At-Bay.