Mylo vs TechInsurance

Mylo describes itself as an independent insurance broker for small and growing businesses. It recommends coverage and compares available quotes from multiple insurers rather than issuing its own policies. ^1,2

Mylo says it launched within Lockton Companies in 2015 and now has Group 1001 as its backer. A May 2023 Kansas City Business Journal report said Group 1001 became the majority investor and Mylo was no longer part of Lockton; the reviewed sources did not provide a newer ownership percentage. ^2,16,17

Mylo, LLC operates the website and is the named insurance agency. Its footer identifies Mylo Insurance Solutions, LLC as a trade name in California, Illinois, Michigan and North Dakota, and Mylo Solutions, LLC as a trade name in New York. ^1,3,18,19

Mylo also supplies an embedded insurance-shopping service to other companies and insurance agencies. A buyer entering through a partner should identify whether Mylo, the partner or another licensed entity is the producer for the transaction. ^15,16

TechInsurance is a small-business insurance agency and brokerage. Its legal disclosure identifies the business as a division of Specialty Program Group LLC, doing business in California as SPG Insurance Solutions. ^23,29,30

TechInsurance describes itself as part of Insureon and HUB International. Its history says HUB acquired Insureon’s digital agency in 2022 while Bold Penguin acquired the technology platform; HUB’s acquisition announcement placed the agency operations within Specialty Program Group. ^22,23,32

A business buyer can answer questions about the company and industry online or work by phone with a licensed advisor. Mylo says its system recommends coverage and compares available quotes; some carrier and coverage combinations can be purchased online, but an agent finalizes the policy in most cases. ^1,3

Mylo’s Terms of Use say a purchase may carry additional transaction terms, require accurate and complete application answers and is not guaranteed to result in an issued policy. The posted site terms were last updated in November 2018, so buyers should review the current terms presented with a quote. ³

TechInsurance describes a single application for comparing multiple insurance quotes, followed by policy purchase and online coverage management, with licensed-agent guidance available. ²²

TechInsurance’s account instructions warn that quotes may take time to appear after an application is submitted; an application is not confirmation of bound coverage. ²³

The reviewed public pages identify Mylo advisors, a service-professional fallback and a benefits HR portal, but do not establish one universal workflow for commercial policy changes, certificates, renewals or cancellations across carriers. ^1,4,14

TechInsurance says it provides a dedicated account manager and online certificate access. Its instructions require an active policy for a certificate request and direct urgent requests to the account manager. ^21,23

The reviewed About and Contact pages do not establish a renewal remarketing schedule, a contractual response-time commitment, or the scope of dedicated support for a complex growth-stage insurance program. ^22,23

Mylo says its guided shopping service is free and that 95% of customers do not pay Mylo a fee when purchasing. It generally earns a carrier commission; in fewer than 5% of transactions, it says it charges a fee when it handles billing and incurs higher administrative costs. The reviewed disclosure does not give the fee amount. ²

TechInsurance directs buyers to SPG’s compensation disclosure, which describes insurer commissions, contingent and supplemental payments, and possible negotiated client fees. Some placements may involve both commission and client-paid fees; quote-specific amounts are not disclosed there. ^29,30

SPG discloses that strategic insurers may pay enhanced compensation and that some of it may incentivize employees to prioritize those insurers’ products. Ask which markets were approached and how the placement is compensated. ³⁰