(Image source: ITC.)
Insurtech startup Budd has announced that Caribou Honig, investor, entrepreneur, and a prominent figure in the InsurTech movement as founder of InsureTech Connect (ITC)—the largest InsurTech conference in the world—has joined by company’s board of directors.
“Caribou has been a fantastic mentor for Buddy, contributing his macro view of the insurtech landscape as well as his front-row experience as an advisor to numerous successful startups,” comments Charles Merritt, co-founder and CEO, Buddy. “As a board member, we’ll look to Caribou to advise our executive team on our growth strategy, product evolution, and ways our technology can be applied to new partners and in new markets. His experience in venture capital is invaluable as Buddy enjoys a period of hypergrowth.”
Honig has invested in and advised exceptional startups throughout his career. In the early days of his career, he held several management positions at Capital One during a period of hyper-growth. Honig transitioned to venture capital for his second act and was the co-founder of QED Investors, one of the premier VCs in fintech. In 2018, Honig became an advisor, and later, a partner at SemperVirens, a boutique VC fund focused on the Future of Work. In addition to InsureTech Connect, Honig is also co-founder HR Transform, a conference exploring tech-driven transformation of the workplace.
Caribou’s Board announcement comes weeks after Buddy launched its industry-first Insurance Gateway, which the vendors says enables software and eCommerce companies to embed multiple insurance products into their transaction flow in minutes through one universal API. Once a new partner connects to Buddy’s Gateway, insurance products can be added, updated or edited in real time and without coding expertise, a Buddy statement says. Additionally, insurance carriers can quickly onboard their travel, accident & health, property/casualty, and ticket cancellation insurance products to the gateway, making them simple to transact online.
Improving How Software and eCommerce Companies Sell Insurance
“I’ve had the good fortune to track Buddy almost from their inception, and I’ve enjoyed advising Charles and his team on product and partner strategy,” comments Honig. “Buddy’s focus on the API-ification of insurance and the launch of the Insurance Gateway will improve the way software and eCommerce companies sell insurance. I look forward to helping Buddy anticipate trends and access new market opportunities.”