# PolicyFly **Source:** https://geo.sig.ai/brands/policyfly **Vertical:** Insurance Tech **Subcategory:** General **Tier:** Emerging **Website:** policyfly.com **Last Updated:** 2026-04-14 ## Summary Specialty insurance workflow automation reducing submission-to-policy from weeks to minutes for MGAs and carriers; $8M Bain Capital Ventures and YC backed serving $200B specialty insurance market. ## Company Overview PolicyFly is a New York-based insurtech company that automates specialty insurance workflows — digitizing the submission-to-policy process for cyber, flood, and trucking insurance that traditionally takes weeks of back-and-forth between brokers, managing general agents (MGAs), and carriers, reducing transaction times to minutes through an automated digital platform that handles structured data collection, underwriting rules, coverage configuration, and policy issuance. Founded in 2018 and backed by Bain Capital Ventures, Susa Ventures, and Y Combinator with $8 million raised including a $7 million seed round, PolicyFly serves the $200 billion specialty insurance market. PolicyFly's platform connects the distribution chain in specialty insurance: brokers submit structured risk data through PolicyFly's digital intake forms (replacing the unstructured email and PDF submissions that require manual re-keying at each handoff); the MGA or carrier's underwriting rules run automatically to generate a quote or refer to an underwriter; bound policies are issued digitally with e-signatures and digital certificates. The specialty insurance market is particularly paper-heavy — unlike personal auto or home insurance (which have standardized data formats), specialty lines (cyber, professional liability, excess and surplus) have customized terms that require bespoke submission and negotiation. In 2025, PolicyFly competes in the specialty insurance distribution technology market with Appulate (commercial insurance submission platform), Veruna (Salesforce-based AMS for MGAs), AgentSync (producer licensing and compliance), and Next Insurance (digital insurance for SMBs) for insurance distribution automation. The specialty insurance market has been slower to digitize than personal lines, but InsurTech investment has accelerated digital infrastructure development. The MGA sector has grown substantially — MGAs write approximately $65 billion in US annual premium, and digital platforms that make MGA distribution more efficient are increasingly attractive to both MGAs and the carriers that back them. Bain Capital Ventures' lead reflects the investment firm's conviction in specialty insurance distribution technology. The 2025 strategy focuses on expanding the specialty lines beyond cyber, flood, and trucking, deepening the carrier integration for automated quote-bind workflows, and growing the MGA customer base. ## Frequently Asked Questions ### What is PolicyFly? PolicyFly is a New York-based insurtech company founded in 2018 that empowers insurers to sell and manage specialty insurance in minutes instead of weeks. The company automates $200B of annual specialty insurance workflows traditionally processed over email between agents and insurers, focusing on specialty lines like Cyber, Flood, and Trucking insurance. ### What products and services does PolicyFly offer? PolicyFly offers a specialty insurance platform with policy management automation, digital procurement, submissions-to-policy workflows, and MGA/Carrier technology. The platform provides 24-hour specialty insurance processing, agent-insurer connectivity, consolidated insurance data, managed marketplace, and scalable specialty insurance operations. ### Who are PolicyFly's target customers? PolicyFly serves managing general agents (MGAs), insurance coverholders, carriers, syndicates, and specialty insurers requiring modern digital infrastructure globally. The platform powers these organizations with modern technology, automation, and real-time insights. ### When was PolicyFly founded? PolicyFly was founded in 2018. ### Where is PolicyFly located? PolicyFly is based in New York, New York, with its team located in New York. ### How much funding has PolicyFly raised? PolicyFly has raised $8M in total funding, including a $7M seed round. The investors include Bain Capital Ventures, Susa Ventures, Viewpoint Ventures, and Y Combinator. ### What is PolicyFly's key value proposition? PolicyFly reduces specialty insurance processing time from weeks to minutes by automating email-based workflows. The platform addresses the $200B annual specialty insurance market by providing modern technology and automation to replace traditional manual processes. ### What technology approach does PolicyFly use? PolicyFly automates specialty insurance workflows that were traditionally processed over email between agents and insurers. The platform provides modern digital infrastructure with real-time insights, enabling 24-hour specialty insurance processing instead of weeks. ### What types of specialty insurance does PolicyFly focus on? PolicyFly focuses on specialty insurance lines including Cyber insurance, Flood insurance, and Trucking insurance. These specialty lines are part of the $200B annual specialty insurance market that the company serves. ### Is PolicyFly part of Y Combinator? Yes, PolicyFly is Y Combinator backed and was part of the W22 (Winter 2022) batch. Y Combinator is also one of the company's investors in its $7M seed round. ## Tags b2b, saas, insurance, automation, fintech --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*