Managed Infrastructure Platform for Insurance Agencies announces additional $1 million in funding
Insurtech b atomic Closes $1,000,000 Seed Round Led by Private Equity and Independent Insurance Agents to Accelerate Growth
b atomic takes the system-of-systems approach to support insurance agency operations, providing technology resources that can be allocated and managed from a single cloud-based terminal called neon. Insurance agents use the neon for SalesForce app, data transformation, business intelligence visualization, and API to create a well-rounded user experience for their customers.
The Ohio-based Company began a private beta in mid-2020, bringing 13 agencies on the platform – with an additional 17 agencies joining in 2021 and plans to open access to their data analytics suite by the end of Q1 2022.
“Plenty of groups are promising to disrupt the Insurance Industry, but that is not what we are trying to do,” said Seth Zaremba, Founder of b atomic. “Managed Infrastructure platforms transform the insurance business by creating new profit and stronger margins while managing the complexity of constantly changing technology.”
Oak Tree Equity, a private equity arm of Kokosing Construction, will participate in the funding round as a new investor, with additional funding coming from Independent Insurance Agents. To date, b atomic has raised $4.2 million.
“We use neon in our agency and really from day one began to see the spots where we could improve,” said John Horvath, President of Neverman Insurance. “Our agency is running more efficiently, and we love the profit-sharing goals they have for data.”
Insurance agencies using neon create and share granular behavioral data in real-time with other agencies in an anonymized format typically absent in the Independent Insurance Agency Channel. Additionally, behavioral data matched with financial calculations specific to each user create unique agency values that consider profit/loss calculations to activate customer support workflows while delivering all the usual services expected from Agency Management Systems.
Media Contact
Seth Zaremba – Founder
seth@batomic.com