BrokerageReal Estate

Keller Williams partners with bolt to scale insurance services

Keller Covered will now have access to bolt’s SaaS-based insurance exchange

Real estate franchise brokerage Keller Williams has entered into a strategic partnership with property and casualty insurance exchange bolt.

Keller Covered is the brokerage’s homeowners’ insurance marketplace for KW agents and clients. On the platform, users can compare insurance quotes from over 25 insurance carriers including Lemonade, MetLife, Liberty Mutual, Hippo, Nationwide, Safeco, Travelers and Encompass. Through this new partnership, Keller Covered will now use bolt’s SaaS-based insurance exchange in order to expand distribution, create new products, and offer more choices.

Bolt claims to have the largest exchange of property and casualty insurance products on a single, virtual platform, one that includes two-thirds of the leading U.S.-based insurance carriers.

Due to inflation, inclement weather and supply chain issues, homeowners insurance is on the rise. According to S&P Global Market Intelligence, premiums are up between 3% and 30% for U.S. homeowners. The average annual premium for homeowners insurance has increased by nearly 12% since 2018 to $1,398 in 2021, according to the Insurance Information Institute.

In 2021, Keller Williams , saw a 30.6% increase in sales volume for transactions completed in the U.S. and Canada, for a total sales volume of $532.2 billion, according to self-reported figures by the brokerage.

The top ranking Keller Williams’ franchises came in at 11th in transaction sides and 13th in sales volume in 2021, according to the RealTrends 500 rankings. However, the brokerage led the list of the top 50 one-year movers by percentage transaction side.

Santa Monica-based Keller Williams — Cunningham Group saw a 136% increase in sides between 2020 and 2021. Top movers is a ranking of the 50 firms in the RealTrends 500 that had the largest percentage increase in closed sides or largest percentage in sales volume between 2020 to 2021.