Centana Growth Partners Acquires Majority Stake in First Connect Insurance Services
Summary
Centana Growth Partners, a NYC-based and Palo Alto, CA-based growth equity firm specializing in the financial services ecosystem, acquired a majority stake in First Connect Insurance Services, an Austin, TX-based provider of an insurtech platform, formerly an indirect wholly-owned subsidiary of Hippo Holdings Inc. (NYSE: HIPO). This funding will enable First Connect to accelerate product growth, and expand market penetration. Led by CEO Aviad Pinkovezky, First Connect Insurance Services is a digital platform designed to level the playing field for independent agents by providing access to over 100 carriers and MGAs across home, auto, cyber, small business, life, and specialty lines. • Appetite Finder: A tool that helps agents identify carriers with appetite for specific risks, providing a simplified path to quoting and binding policies. • AI-driven Validation: By implementing an AI-powered solution for validating Errors & Omissions (E&O) documents, they’ve automated the majority of the verification process, reducing compliance approval times for new agents from weeks to just minutes, allowing agents to start selling policies almost instantly.