Openly is a technology-enabled homeowners insurance company founded in 2017 and headquartered in Boston, Massachusetts. The firm builds its own insurance technology platform, applying actuarial science, machine learning and data analytics to underwriting and pricing. Its technical work spans an insurance technology platform developed in-house, with data and modelling central to how policies are rated and delivered.
The company sells premium, customizable homeowners insurance through independent agents, its core distribution channel. Its product includes guaranteed replacement cost coverage of up to $5m and liability coverage of up to $1m. Openly operates in 24 U.S. states.
Openly was founded by insurance industry insiders: chief executive Ty Harris, previously of Liberty Mutual, and Matt Wielbut, who had built two insurtech ventures. Its leadership team reports more than 200 years of combined industry experience. The firm describes a pragmatic internal culture - retaining what works and discarding what does not - and states an emphasis on clarity, flexibility and simplicity for customers.
