RICHMOND, VA – Insurtech startup Buddy today announced investor and insurtech thought leader Caribou Honig has joined its board of directors. Often referred to as the “Godfather of insurtech,” Honig brings years of experience with successful fintech start-ups to the Buddy boardroom.
“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,” said Charles Merritt, Buddy co-founder and CEO. “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. Honig is also the co-founder of InsureTech Connect, the largest insurtech conference in the world, and HR Transform which explores tech-driven transformation of the workplace.
Caribou’s Board announcement comes weeks after Buddy launched its industry-first Insurance Gateway enabling software and eCommerce companies to embed multiple insurance products into their transaction flow in minutes, all 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. 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.
“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,” said 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.”
Buddy’s industry transforming Insurance Gateway is the simplest way for software companies to manage and sell insurance products to customers. Built for businesses but designed for developers, Buddy's single, forward-compatible connection enables software companies to offer and manage insurance without costly engineering hours. Buddy is based in Richmond, Va., and is an alumnus of Techstars and Plug and Play Accelerators. Buddy was named a 2019 “Outdoor Innovator” by Outside Magazine and an “Insurance Innovator to Watch” by Digital Insurance. Buddy is funded by Atypical Ventures, Sequoia Scout Fund, CIT, Techstars, and Plug and Play, as well as angel investors.