Centana Growth Partners has acquired a majority stake in First Connect Insurance Services, an insurtech platform connecting independent insurance agents with carriers.
The investment aims to boost First Connect’s growth and improve its platform, offering agents seamless access to more carriers and advanced tools.
The insurance market is increasingly volatile, with agents and carriers grappling with fragmented systems and evolving underwriting processes. First Connect’s focus on the needs of independent agents stood out to us. Their strong unit economics, impressive growth, and ambitious team left a lasting impression.
Sarah Kim, Partner at Centana Growth Partners
First Connect addresses a key need in the insurance sector by simplifying how independent agents connect with carriers.
The platform provides several benefits:
- Agents can easily find and connect with carriers, cutting down administrative tasks and speeding up the quoting and binding process.
- Automated E&O document checks streamline onboarding for new agents.
- Efficient tools help agents manage their business and serve clients better.
Centana’s support positions First Connect to empower independent agents in a competitive market.
This investment lets us double down on supporting our agents and carrier partners by strengthening our product and service. We’ll scale our team in product, engineering, sales, and account management to meet rising demand.
Aviad Pinkovezky, CEO of First Connect
Ramneek Gupta, Managing Partner of Pruven Capital, added: “Independent agents are crucial to the insurance industry but need better tools to access carriers and grow. We’ve heard from industry leaders like Prudential, WTW, and Mutual of Omaha that carriers also need improved ways to engage with this channel”.
