PolicyFly

Growth Platform for Specialty Insurers

Core Administration Startup Seed

Overview

PolicyFly is a growth platform designed specifically for specialty and excess & surplus (E&S) insurers. The company empowers MGAs, MGUs, carriers, coverholders, and syndicates to sell and manage specialty insurance in minutes instead of weeks. Every year, approximately $200 billion of specialty insurance such as cyber, flood, and trucking is processed over email between agents and insurers. PolicyFly connects both parties to automate these workflows and consolidate all data, bringing growth, efficiency, and transparency to otherwise hard-to-insure markets.

Founded by Cory Crosland, Marcel Esser, and Michael Fiedel, PolicyFly originated from Croscon, a digital product studio. After the fourth insurance company asked Croscon to build the same custom policy management platform, the founders realized the need existed for a productized solution. PolicyFly launched through Y Combinator's Winter 2022 batch and has since processed over $1 billion in specialty premium.

PolicyFly enables insurers to rapidly launch new programs in weeks rather than months, with the initial platform running in days. The platform has earned a reputation as a reliable solution for policy administration, enabling insurers to manage everything from submission intake and underwriting to endorsements, cancellations, reinstatements, and reporting.

Products & Services

PolicyFly Platform

A complete policy management platform built specifically for specialty insurance programs. It brings agents, brokers, and customers into one experience, handling every step from submission intake through policy servicing.

Key Features

Online applications with streamlined quote-to-bind workflows
Policy issuance, endorsements, cancellations, and reinstatements
Configurable business rules for automated underwriting
Real-time reporting across submission queues and aggregate limits
Agent and broker portal for self-service access

Target Users: MGAs, MGUs, carriers, coverholders, syndicates

PolicyFly Capture

Automatically ingests and processes submissions from any source, in any format. Capture enables underwriters to automate submission intake, allowing for faster evaluations and improved bind ratios.

Key Features

Multi-source submission ingestion (email, portal, API)
Automated data extraction and normalization
Submission triage and prioritization
Faster underwriter evaluation workflows

Target Users: Underwriters, submission teams

Reporting Suite

Real-time analytics that give insurers insights into submission flow, bind rates, and risk performance. The reporting suite helps refine pricing, optimize underwriting, and track claims impact.

Key Features

Submission flow analytics
Bind rate tracking
Risk performance metrics
Claims impact reporting
Aggregate limit monitoring

Target Users: Underwriting managers, actuaries, program managers

Automate

Straight-through-processing capabilities based on configurable business rules, allowing underwriters to focus on complex risks while routine submissions are handled automatically.

Key Features

Configurable underwriting rules engine
Straight-through processing for qualifying submissions
Automated pricing and quoting
Business rule management

Target Users: Underwriters, operations teams

Integrate

Third-party data integration layer that leverages external data sources to inform decision-making or share data with other business systems like accounting and claims.