AXA Strategic Ventures has invested in mobile insurance technology provider Limelight Health, the company announced today. The move comes about a month after the company made its first U.S. investment, in the distribution technology startup PolicyGenius.
Limelight's first commercial product, Quotepad, helps brokers, carrier representatives and underwriters to immediately respond to customer quote requests, compare employee benefits information and model interactive health plan cost scenarios with real-time market data.
"We are excited about the partnership with Limelight because they share our vision for serving the growing SME market in the US," said Manish Agarwal, General Partner of AXA Strategic Ventures. "The market requires personalized and compelling benefits solutions, which is an important focus of new product development for AXA. The changing insurance landscape highlights the need for transparency and simplicity in the business process. Limelight Health's technology is setting a new precedent for enterprise level efficiency."
Limelight intends to use the capital to help grow its sales and engineering teams, deliver innovative product enhancements to itstechnology platform, and aggressively expand distribution nationally, it says.
