Leading Direct-to-Customer Insurance Provider Announces Policy Growth Surpassing One Million Policies
NEW YORK, NY – ( NewMediaWire ) – May 08, 2024 – Veracity Insurance, a national E&S wholesale brokerage and managing general agency, announced today that it has bound more than one million policies through its innovative direct-to-customer portfolio of brands. The milestone marks an important metric in the growth of small business insurance in the US and the popularity of Veracity’s business model of offering affordable, industry-specific policies for purchase directly by businesses through online channels without the need for a broker.
Veracity’s portfolio of brands includes Food Liability Insurance Program (FLIP), a specialty provider of insurance products for small business operators in the food industry; ACT Insurance, a leading provider of insurance solutions for creative professionals; Beauty and Bodywork Insurance (BBI), a niche insurance provider of policies designed for bodywork professionals; and InsuranceCanopy.com, a small business insurance marketplace with custom tailored products for more than 20 industries. Through this portfolio, Veracity offers policies designed to meet the unique needs of small businesses and the industries in which they operate. This includes General Liability and Workers Compensation, as well as add-on coverages like Cyber and Inland Marine, among others. In all, Veracity offers policies for more than 500 business types ranging from small to mid-sized and are available for purchase online without the need for a broker and offer flexible monthly payment plans.
“When we first began offering direct-to-customer insurance products available via the internet over ten years ago, we knew we were on the forefront of a shift in how the insurance industry would operate,” said Daryle Stafford, CEO of Veracity Insurance. “Today we celebrate an incredible milestone of binding over one million policies which I think illustrates both the success of our model and how much customers demand the ability to both buy and manage their policies online. I could not be prouder of our team and our family of brands in achieving this goal and look forward to our next million as we continue to grow, innovate, and champion custom and affordable coverages for small businesses.”
The number of small businesses in the United States has exploded in recent years, with 1.4 million new entities opening in 2023 alone. According to the Small Business Association, approximately 33.3 million businesses in the United States qualify as a small business and make up 99.9% of all U.S. businesses. Veracity’s mission is to be a trusted partner to these small business owners by offering affordable policies and award-winning customer support.
About Veracity Insurance
Veracity Insurance is recognized for providing exclusive programs with in-house underwriting and binding authority, working alongside A-rated carriers. Offering fast turnaround times for our retail agents, Veracity specializes in a wide range of insurance solutions, including Product Liability, Program Management and General Liability. Veracity is also home to direct-to-customer commercial insurance brands such as Food Liability Insurance Program (FLIP), a specialty provider of insurance products for small business operators in the food industry; ACT Insurance, a leading provider of insurance solutions for creative professionals; Beauty and Bodywork Insurance (BBI), a niche insurance provider of policies designed for bodywork professionals; and InsuranceCanopy.com, a small business insurance marketplace with custom tailored products for more than 20 industries. For more information on Veracity, please visit: https://www.veracityinsurance.com/
Media Contact:
Kyle Porter
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