Hiring new employees can be rough. The hiring process, plus training, plus the learning curve of your product or service can set your company back in time and money. Agency VA, a Lehi-based virtual assistance (VA) platform for insurance agencies, is changing that narrative with ready-to-go virtual agents, and they've recently announced a $12M investment by Maddix Capital.
With over 400,000 domestic insurance brokers and agencies that generate a combined $200+ billion in revenue, insurance is a booming business. However, insurance professionals spend over 85 percent of their time on non-revenue generating tasks, which is a huge amount of time and, subsequently, money lost. Using remotely located agents that are trained professionals, agencies can vastly improve retention rates and virtual agents can complete more tasks in a given day than an on-site agent (agencyva.com). With eight offices in five different countries, Agency VA is working with domestic insurance companies to make sure you're covered.
Agency VA is a huge shift in a somewhat old-school industry, and both the company and investor Maddix Capital are excited about what the future holds. “At Maddix, we intentionally target industries primed for disruption because we have the team and expertise to execute. The insurance industry is infamously archaic and therefore fits that mold,” said Jesse Silva, Maddix Founder and General Partner in a recent press release.
The investment will provide funds to improve the software platform as well as further expand Agency VA's business into the international market. For more information about Agency VA, visit AgencyVA.com. To read the full press release, click here.