Broker Buddha

Broker Buddha operates as a technology solutions provider focused on the commercial insurance sector, aiming to digitize and streamline the traditionally paper-intensive application and renewal process for insurance agencies. The company was co-founded in 2017 by CEO Jason Keck, a seasoned technology entrepreneur with two decades of experience in digital and mobile platforms. His background includes a computer science degree from Harvard and leadership roles at well-known tech firms like Shazam and Tumblr, as well as foundational experience at Accenture. The idea for Broker Buddha originated within the New York-based incubator Interplay, where an affiliated insurance agency, Founder Shield, built an internal tool to digitize applications, realized its broader market potential, and spun it out as a separate company.

The firm's core offering is a client engagement platform provided as a white-label, vertical SaaS product to insurance agencies. It primarily serves independent insurance agencies, from small businesses to large national brokers like Brown & Brown and AssuredPartners, who are seeking to enhance efficiency and client experience. Revenue is generated through a subscription-based model, with pricing tailored to the size of the agency. For example, a flat annual fee of $3,000 is offered for smaller agencies with five or fewer client-facing employees. A significant milestone occurred in August 2023 when Broker Buddha was acquired by Acturis Ltd., a global insurance software provider, facilitating Acturis's entry into the U.S. market and providing Broker Buddha with substantial resources for further growth.

The platform's main function is to convert static PDF insurance applications into interactive, web-based smart forms. This allows an agency's clients to complete and e-sign documents online. Key features include pre-filled forms with prior year's information for renewals, single-entry data that maps common questions across multiple forms, and conditional logic that simplifies the user experience by only showing relevant questions. For agents, the system highlights year-over-year changes, provides a dashboard to track submission progress, and includes a collaborative tool called "Assign Questions," which allows agents or clients to delegate specific sections of an application to the relevant person within the client's organization for completion. This digital workflow is designed to reduce the time and administrative burden for both brokers and their customers, aiming to accelerate response times and improve the accuracy of the information collected.

Keywords: Insurtech, client engagement platform, commercial insurance, policy application, renewal automation, digital forms, SaaS, insurance agencies, workflow automation, eSignature