Matic Insurance

Matic Insurance operates as a technology-driven, licensed insurance agency specializing in the property and casualty sector, with a focus on embedding insurance solutions within the home and auto ownership lifecycle. The company was founded in 2014 by Benjamin Madick and Aaron Schiff, who drew upon their backgrounds in the mortgage and technology industries to address a significant pain point: delays in home loan closings caused by last-minute insurance complications. Madick's experience in correspondent lending and co-founding a risk management firm for mortgage lenders highlighted the friction in the traditional insurance procurement process, leading to the creation of Matic—short for 'automatic'—to streamline and simplify the experience for both consumers and business partners.

The firm's core offering is a digital insurance marketplace that integrates directly with its partners' systems, such as mortgage loan origination systems (LOS) and point-of-sale (POS) platforms. This B2B2C model primarily serves mortgage originators, loan servicers, banks, and credit unions. By leveraging borrower and property data from its partners, Matic's platform can deliver multiple, comparable insurance quotes from its network of over 40 A-rated carriers in minutes, a process that traditionally could take days. This embedded approach not only expedites loan closings but also improves the customer experience. Matic's revenue is generated through commissions from the insurance carriers for each policy sold via its platform. The service is free for consumers, with no added fees.

Since its formal product launch in 2017, Matic has achieved significant milestones, including raising over $80 million in funding through multiple rounds, with a notable $30 million secured in January 2025. The company has expanded its partnerships to over 100 organizations, including major financial institutions, and now offers a range of personal insurance lines beyond homeowners, such as auto, umbrella, and flood insurance. Headquartered in Columbus, Ohio, the company has established a strong presence in the insurtech market by creating a more transparent and efficient insurance purchasing journey.

Keywords: embedded insurance, insurtech, digital insurance marketplace, property & casualty insurance, homeowners insurance, auto insurance, mortgage technology, loan origination system integration, insurance comparison platform, commission-based revenue, B2B2C insurance, personal lines insurance, financial institution partnerships, digital insurance agency, mortgage servicing solutions, insurance technology platform, risk management, loan closing process, homeownership experience, carrier network