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Heffernan Insurance Brokers Participates in GloveBox $3 Million Early-Stage Investment

WALNUT CREEK, Calif., March 23, 2021 /PRNewswire/ -- Heffernan Insurance Brokers, one of the largest full-service, independent insurance brokerage firms in the United States, today announced participating in a $3 million early investment round for GloveBox, an innovator in the mobile insurtech marketplace. Additional participants in the round include Mercato Partner's Prelude Fund and other insurance industry partners. The investment will enhance and expand the platform for both agencies and policyholders.

Co-founders Ryan and Andy Mathisen, Sean Mulhern, and Alex Rolex created GloveBox based on their experiences at Colorado Insurance. They set out to provide a completely tech-forward mobile marketplace that enables independent agencies to win against larger, incumbent carriers.

"As former insurance executives, we know the issues facing smaller, independent carriers, including the lack of technology at their disposal," said Ryan Mathisen, co-founder and CEO of GloveBox. "With this funding, we will dramatically expand and accelerate our platform development reaching more agency partners faster and more efficiently. GloveBox is changing the way that policyholders interface with the independent channel and this is only the beginning for us."

GloveBox's technology increases customer satisfaction, reduces service inquiries, and decreases service costs. As a result, agencies run more efficiently and profitably, consumers enjoy better service and lower prices. Since its launch in March 2020, GloveBox has signed up over 100 agencies and is averaging five new entities a week.

For more information on GloveBox, visit gloveboxapp.com.

About Heffernan Insurance Brokers
Heffernan Insurance Brokers, formed in 1988, is one of the largest independent insurance brokerage firms in the United States. Heffernan provides insurance and financial services products to a range of businesses and individuals. Headquartered in Walnut Creek, Calif., Heffernan has offices in San Francisco, Petaluma, Menlo Park, Truckee, Bakersfield, Woodland Hills, Los Angeles and Irvine, CA; Phoenix, AZ; Portland, OR; Seattle and Olympia, WA; St. Louis, MO; Philadelphia, PA; and London UK.

Employee-owned, Heffernan Insurance Brokers was named the Top Mid-Sized Broker in the United States to work for in 2009 by Business Insurance Magazine. The firm has been among the Top Greater Bay Area Philanthropists since 2003.

For more information, visit www.heffins.com. License #0564249

About GloveBox
Founded in 2019 and launched in 2020, Denver-based insurtech GloveBox has quickly established itself as a major innovator within the P&C insurance sector by simplifying the customer experience while significantly reducing service costs for independent insurance agents and carriers. Dedicated to removing the frustrations out of the insurance process, GloveBox enables customers to access all policy documents directly from their insurance carrier, pay a bill and initiate a claim through its easy-to-use mobile and web application. As the platform evolves, GloveBox will become the premier customer-interfacing solution for independent agents to leverage with all of their policyholders, at any stage in the insurance lifecycle.

For more information on GloveBox, visit gloveboxapp.com.

SOURCE Heffernan Insurance Brokers