Franklin Madison has made a strategic investment Matic Insurance, a US-based digital insurance agency focused on integrating insurance into the home and auto ownership experience.
Detail about the size of the investment, which was made as part of the company’s Series B funding round, has not been revealed.
The digital insurance marketplace of Matic provides has over 30 A-rated home and auto carriers.
It has distribution partners in wide array of industries such as mortgage origination and servicing, banking, real estate, and personal finance.
Matic Insurance CEO Ben Madick said: “Matic’s platform was built to integrate within banks’ ecosystems and deliver an amazing customer experience.
“It was a natural fit to partner with Franklin Madison with their strength and experience in the financial institution marketplace. We are looking forward to the partnership opportunity with an organization that brings nearly 50 years of industry expertise, a best-in-class direct marketing approach, and outstanding customer loyalty across 3,500 financial institutions.”
Franklin Madison’s Robert Dudacek added: “As Franklin Madison continues to invest in and advance our digital capabilities, we are very excited to work with Matic, whose cutting edge and proprietary technology is propelling the industry forward.
“Their competitive market technology, great business model, and strong leadership made them an attractive investment opportunity.”
Franklin Madison added that Matic will continue to run as separate venture after this transaction.