Matic, a leading digital insurtech, announced today that the City of Phoenix has been chosen for its western hub. The company moves into its 6,000 square foot office space in April at Uptown Phoenix’s LINK, creating 50 local, full-time jobs over the course of its initial expansion.
Matic trailblazed the concept of embedded insurance with their proprietary technology that integrates insurance within the home and auto ownership experience. As a venture-backed, growth-stage startup, Matic’s B2B2C model is partner-driven through a variety of industries, such as mortgage, banking, real estate, consumer services, and auto finance. This tech-enabled, embedded approach has helped Matic achieve strong revenue growth, averaging an increase of 250% annually since their go-to-market launch in 2017. Additionally, Matic’s workforce has more than doubled since 2020, with a current headcount of 250.
“The establishment of our western hub in Phoenix marks a significant milestone for Matic,” said Ben Madick, CEO of Matic. “As a nationwide company with customers in 50 states, including 40% located in non-eastern times, we needed to expand our footprint to better serve our customers. We completed a rigorous selection process and ultimately selected Phoenix due to its size and breadth of talent, nearby universities, and startup tech scene.”
Matic has already begun establishing relationships with local universities, including Arizona State University, Grand Canyon University, and the University of Arizona. Matic is excited to continue its strong ties with universities to attract and develop early career-stage leaders and provide them with opportunities for personal and professional growth. Matic is looking to fill sales and product management roles immediately with more to come in the near future.
“Phoenix is a U.S. leader in advanced business and financial services,” said Christine Mackay, Director, Phoenix Community and Economic Development. “We welcome Matic to Phoenix for its western hub and know that the skilled and experienced workforce will meet their needs as they grow in this market.”
Founded in 2014, Matic has expanded west to complement its Columbus, Ohio headquarters, based in eastern time. Matic delivers an innovative and unbiased approach to home and auto insurance, combining an intuitive digital experience with an agency of trusted advisors. Matic’s digital insurance marketplace has grown to more than 40 A-rated carriers, saving consumers hours of work shopping for the best policy and an average of 30% in premiums.
“Insurtech is a growing and in-demand industry,” said Chris Camacho, president and CEO of the Greater Phoenix Economic Council. “Matic’s decision to scale operations in Greater Phoenix is indicative of the strength of this region and its innovative core, where companies can thrive within a synergetic technology ecosystem. We look forward to partnering with Matic and its continued success in the region.”
“We are thrilled to welcome Matic to Arizona and are grateful they have chosen Phoenix as their western hub,” said Sandra Watson, President and CEO of the Arizona Commerce Authority. “Matic’s expansion demonstrates Arizona’s attractiveness as a destination for technology while creating quality jobs for residents. We look forward to seeing Matic establish their new location as part of Arizona’s growing technology ecosystem.”
Brett Thompson and Larry Downey with Cushman Wakefield represented Matic in this real estate transaction and Sean Spellman, Corey Hawley and Jimmy Cornish with CBRE represented the building owner for LINK.
Since 2014, Matic has changed the landscape of the insurtech industry by integrating insurance within the home and auto ownership experience. Today, Matic’s digital insurance marketplace has over 40 A-rated home and auto carriers, as well as distribution partners in industries ranging from mortgage origination and servicing to banking, real estate, and personal finance. With a single-minded focus on advocating for policyholders, Matic has created an effortless and transparent comparison-shopping process, saving customers days of work and over 30% in premiums each year.
Speak Your Mind
You must be logged in to post a comment.