Fabric Insurance Agency

Founded in 2015 in Brooklyn, US, Fabric Insurance Agency, LLC specializes in term life insurance. The company was acquired by Western & Southern Financial Group, Inc. in January 2022. The co-founders are Adam Erlebacher and Steven Surgnier, with Adam Erlebacher serving as CEO.Fabric by Gerber Life primarily offers term life insurance and financial planning tools aimed at families. Their core product, term life insurance, provides financial protection for policyholders’ families in the event of an untimely death. The company emphasizes ease of access with a quick online quote process, ensuring that insurance premiums are guaranteed not to increase over the life of the policy. Fabric also provides resources for families to invest for their children’s future with kids' investment accounts, allowing parents to invest on behalf of their minor children. Furthermore, Fabric facilitates the creation of wills, enabling clients to legally document their asset distribution and guardianship wishes.The revenue model of Fabric by Gerber Life is based on the sale of term life insurance policies and investment products. Customers typically engage through direct-to-consumer channels, obtaining quotes and purchasing policies online.00 per day, depending on eligibility and health assessments. In addition to life insurance, revenue is generated from ancillary services such as investment accounts for children and the provision of wills, which are offered at no cost to clients.Following the acquisition by Western & Southern Financial Group in January 2022, Fabric plans to leverage its resources to expand its product offerings and enhance customer engagement. Upcoming products include new financial planning tools aimed at further simplifying the insurance purchasing process for families. The company is also looking to expand its market presence beyond the United States, targeting specific international markets by the end of 2023.

1. Series B

   Oct 28, 2020

   Amount

   $18M

   Investors

   Locked

2. Series A

   Dec 15, 2017

   Amount

   $8M

   Investors

   Locked

3. Seed

   Mar 21, 2017

   Amount

   $2.5M

   Investors

   Locked