Faroe

Real-time policy and premium data management for insurance carriers and MGAs

Core Administration Startup Bootstrapped

Overview

Faroe is a policy and premium data management platform for insurance carriers and managing general agents (MGAs). The company addresses operational inefficiencies in insurance distribution by providing a unified data layer that connects carriers, MGAs, and payment processors in real time.

The platform automates bordereau generation and submission, eliminating manual reconciliation between written and paid premium data. It provides a real-time sales intelligence dashboard where carriers can monitor policy activity across all programs while individual MGAs see only their own data, giving each stakeholder appropriate visibility without compromising data segregation.

Faroe was founded by CEO Michelle Bothe, who spent over 15 years in finance, insurance, and software and previously consulted with approximately 40 insurtech companies. The company is bootstrapped and serves carriers with multiple distribution partners seeking to reduce month-end close cycles and accelerate premium disbursement.

Products & Services

Real-Time Policy & Premium Data Platform

A centralized data layer that integrates with policy administration systems and payment processors to provide live visibility into policy sales, fund flows, and revenue distribution.

Key Features

Real-time policy and premium data access across carrier programs
Automated bordereau generation and submission to eliminate manual processes
Configurable data segregation: carriers see all programs, each MGA sees only its own data
Accelerated payment disbursement through verified policy matching (reported 25+ days faster)

Target Users: Insurance carriers managing multiple MGAs and distribution programs

Sales Intelligence Dashboard

A reporting and search interface for tracking policy activity by date, product, producer, or policy identifier.

Key Features

Customizable real-time dashboards per stakeholder role
Search and filter across policy and premium data
Revenue distribution transparency per policy
Fund flow tracking across the distribution chain

Target Users: Carrier operations teams, finance, and compliance

Automated Reconciliation

Automated matching of written versus paid premium data to eliminate traditional month-end reconciliation workflows.

Key Features

Automated matching of paid versus written premiums
Real-time identification of discrepancies
Transparent audit trail for compliance purposes
Integration with existing payment processors

Target Users: Carrier finance and accounting teams, MGA back-office operations

At a Glance

Headquarters: Cincinnati, Ohio, USA
Employees: 1-10
Funding: Bootstrapped

Category & Focus

Category: Core Administration
Subcategories: Bordereau automation premium reconciliation policy data management financial operations
Insurance Verticals: P&C Commercial Specialty/E&S
Target Customers: Carriers, MGAs/MGUs