NEW YORK, Jan. 12, 2023 — Joyn Insurance reported that it had raised USD 17.7 million in a Series A investment round headed by OMERS Ventures, with participation from  ManchesterStory, Avanta Ventures, Cohen Circle, SiriusPoint, and other private individual investors.

Joyn Insurance, launched in July 2021, combines insurance, data, and technology skills to provide a faster, more accurate, and more transparent experience that saves time, money, and frustration. This integration distinguishes Joyn in the E&S area, providing an industry-leading underwriting and workflow platform for the market’s quickest and easiest-to-bind coverages.

Joyn has bonded over 500 policies with around 80 trading partners, covering over 300 insureds, since entering the market. Joyn now provides E&S coverage for property, general liability, and excess for businesses in 36 states and Washington, D.C., across more than 700 NAICS codes.

“We established this firm to address the pain points and operational inefficiencies that have upset brokers and underwriters for as long as we can recall,” Joyn CEO Seraina Macia stated.

“This money will help us to continue to create and expand so that we can continue to provide the greatest insurance experience in the industry,” Macia added. “Many brokers already recognize that we can deliver on what we were created to do. We look forward to building additional trading partner connections shortly with our broad E&S appetite for small to mid-sized property and general liability risks.”

Joyn Insurance’s Board of Directors will also include OMERS Ventures, ManchesterStory, and Avanta Ventures representatives.

“We are delighted to have such world-class partners on board as we continue to demonstrate to our expanding number of brokers and clients what a technology-powered, happy insurance experience in the E&S sector might look like,” Macia added.

“Despite a high standard for allowed goods, the E&S quote and bind experience at many firms is still predominantly done by pen and paper,” Wechsler remarked. “We couldn’t be prouder to support this world-class team as they disrupt the fastest expanding commercial insurance market.”

The latest capital takes the company’s total raised to more than USD 30 million. It will be used to improve its technology platform and data capabilities and show the value of its unique, technology-driven insurance services. It will be used to dramatically increase Joyn’s crew’s size before the year’s end.

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.

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