BriteCo, an Evanston, IL-based insurtech startup that partners with jewelers to allow consumers to insure fine jewelry and watches within minutes of purchase, raised $2m in seed funding.
– Brian Spaly, the founder of Trunk Club, and
– Jeff Taylor, the former chairman and CEO at Cole Taylor Bank.
Led by founder and CEO Dustin Lemick, BriteCo provides consumers with verified appraisals and immediate replacement coverage by HDI Global, an A rated insurance carrier, available exclusively through partner jewelers. In addition, the coverage has no deductible, automatically updates protection each year using advanced price analytics and predictive models, and offers a streamlined claims experience.
For its partner jewelers, BriteCo offers a cloud-based Appraisal Management System (AMS) and a new source of revenue while improving their in-store customer experience. Once an appraisal is completed on the BriteCo AMS, customers receive an immediate insurance quote via email or text, which allows them to purchase coverage within minutes, even before they leave the store.
Dustin Lemick is a is a third-generation jeweler with over thirteen years of retail jewelry experience. He holds a Graduate Gemologist degree from the Gemological Institute of America (GIA), and his family has owned and operated retail jewelry locations in the Chicagoland area for over 60 years.