NFP and CEO from Insgroup Lead $2.1M Seed Funding for XAGENT
FOR IMMEDIATE RELEASE CONTACT: Alex Gabriel 703-467-5862
March 1, 2018 firstname.lastname@example.org
New InsureTech Platform Provides Significant Competitive Advantage for P&C Agents
RESTON, VIRGINIA, February 28, 2018 – XAGENT, an innovative single-entry market access solution for property and casualty (P&C) agents, announced the closing of a $2.1 million seed funding round. Several prominent top 100 insurance agencies participated in the investment, including NFP (a top 15 agency) and Brian Kapiloff, CEO of Insgroup.
Terry Scali, CEO, NFP’s P&C division and Brian Kapiloff, CEO, Insgroup, played integral roles in helping to spearhead the seed funding. Mr. Scali will be joining xagent’s Board of Directors. NFP and Insgroup will be a part of the growing community of xagent users – more than 500 agencies – that have registered for the upcoming Beta release of xagent’s new Universal Submission App.
“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 Mr. 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.”
XAGENT was 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 saving time, binding more business, and making more money with xagent.
According to Mr. Kapiloff of Insgroup, “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.”
xagent (www.xagent.com) provides a 50-state single-entry submission platform for retail property and casualty (P&C) agents to expedite market access to a variety of standard and surplus lines insurance for commercial clients.