Founded in 2017, Obie provides digital insurance solutions to landlords renting small-medium-sized properties. It also caters to single-family rentals and to apartment building landlords.
Due to rental insurance demand, Chicago-based Obie has scaled swiftly, and grown from securing insurance for $3 billion of property, to a portfolio of property clients, worth $20 billion.
According to reports, the insurtech is now partnered with more than 75 proptech companies, including Roofstock, Flock Homes, Baselane, Awning and Marketplace Homes. Obie has also experienced a 300% growth in written premium over the past two years,
Obie’s digital platform provides low-cost insurance options
A Y Combinator graduate, Obie has attributed its success to its technology-driven platform, which provides customers with quotes in under five minutes. Obie is also considered a low-cost option, and says it regularly saves customers up to 25-30% compared to other insurance premiums.
Speaking about the Series B round, Obie’s CEO and co-founder Ryan Letzeiser, said: “Our team has pioneered an embeddable solution that seamlessly integrates insurance offerings into our partner’s channels, including any place a real estate investor is buying or managing their investment property online.”
Source: Techcrunch
