Insurance marketplace Policygenius is reportedly in talks to file for an initial public offering (IPO) through a merger with PWP Forward Acquisition, a special purpose acquisition company.
Bloomberg, citing undisclosed sources, reported that the financial value of the offering has not been finalised yet.
Go deeper with GlobalData
People familiar with the matter told the publication that the talks may or may not materialise.
Founded in 2014 by Jennifer Fitzgerald, Policygenius offers a digital platform to navigate the insurance buying process. Consumers can purchase insurance including, life, home, auto, disability and renters.
In February this year, the US-based Policygenius raised $100m in a Series D funding round led by global investment firm KKR.
It is also backed by Norwest Venture Partners, Revolution Ventures, Susa Ventures, AXA Venture Partners, MassMutual Ventures and Transamerica Ventures.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataLast week the insurtech collaborated with Ellevest to offer life insurance fulfilment to Ellevest customers through its online marketplace.
The firm noted that it has helped more than 30 million people shop for all types of insurance and has placed nearly $100 billion in coverage.
In March, PWP Forward Acquisition, a blank check company led by women, announced the pricing of its IPO of 20,000,000 units for $10.
Last month, health insurance startup Bright Health Group raised $924.3m in the initial public offering of its 51.3m shares.
Recently media reports emerged that the Indian government is planning to bring in a group of anchor investors to invest up to $3.41bn (INR250bn) in the Life Insurance Corporation of India before its IPO.
