Indio, a commercial insurance platform for brokers has secured $2 million in seed financing from NEA, Compound, Merus Capital, 500 Startups and insurance carrier Hiscox
Indio is a workflow management platform for traditional commercial insurance brokers that automates the manual processes of retrieving quotes from different carriers and processing insurance applications from clients. Brokers utilizing the Indio platform gain access to a connected commercial insurance marketplace, centralized quoting, and digital tools to interact with end clients. Indio was founded by Paul Butler, Michael Furlong and Matthew Watson, a team with experience in traditional financial services and technology. Butler was one of the founding engineers at Marin Software, Furlong was a founder of Sliced Investing (Y Combinator, Khosla Ventures), while Watson was a former trader at Citigroup.