Policygenius cofounders step down

The co-founders of Policygenius – Jennifer Fitzgerald and Francois de Lame – stepped down from their positions on November 30, 2023. Jennifer, who held the role of CEO, and Francois, who served as the COO, founded the digital agency in 2014.

Policygenius operates as an online insurance agency, offering products like life, home, auto, and disability insurance. Since its founding, the company has secured over $276 million in funding.

In April 2023, Zinnia , an Eldridge-backed insurance technology company and a life insurance TPA, acquired Policygenius . The terms of the acquisition were not disclosed, but sources indicate that Jennifer and Francois received a compensation package for the next two to three years, comprising a base salary, bonuses, and retention payments.

In an email reviewed by Coverager, Jennifer writes, ‘I am so proud and grateful for the business we’ve built, the careers we’ve launched and the families we’ve protected. Hard to imagine this when it was just a few of us in a room in Williamsburg a decade ago.’ She added that her Policygenius chapter is coming to a close. Similarly, Francois wrote to all employees, ‘Pg has always been a place where you can pave your own path, and come out of it transformed and transforming others. You’ve all done more for me than you can ever imagine and allowed me to take my own hero’s journey.’

The recent developments at the company have taken employees by surprise. Despite assurances that Jennifer would continue to lead the team for several years with no significant changes, the reality has unfolded differently. Promises of improved benefits have not materialized as expected. The focus is on Policygenius Pro, a life insurance fulfillment platform tailored for financial advisors and independent agents. Also, discussions are currently underway regarding the consolidation of the email systems of PolicyGenius and Zinnia. The integration process is more visible on Slack, where PolicyGenius has been completely renamed to Zinnia.

This comes after the company let go of some employees in August. Previously, the company had about 700 employees, but now it’s down to roughly 371.