U.S.-based insurtech startup Pie Insurance just lately introduced it has exceeded $100 million in cumulative written premium and surpassed $100 million in annualized run price premium.
As beforehand reported, Pie describes itself as a fast-growing insurtech startup that provides staff’ compensation insurance coverage on to small companies. The corporate revealed it started providing staff’ compensation insurance coverage insurance policies in 2018 with the mission of serving to small companies expertise true financial savings and an unmatched degree of service. Pie raised $127 million by its current funding spherical. Thus far, Pie has raised $188 million to additional its mission of remodeling small enterprise insurance coverage by automating your entire quote to assert expertise.
Talking in regards to the newest milestones, John Swigart, Co-Founder and CEO of Pie Insurance coverage, acknowledged:
“Reaching $100 million in written premium in such a short while since our founding reveals that there’s a huge urge for food for staff’ comp insurance coverage that’s easy, trusted and reasonably priced. We acknowledge the quite a few challenges that small companies are at present going through, and we imagine discovering insurance coverage shouldn’t add to their burden. We’re proud to assist small companies across the nation get monetary savings and get staff’ comp insurance coverage rapidly to allow them to concentrate on what’s vital—rising their enterprise.”
Pie went on to disclose extra 2020 highlights embody:
- Accomplice Agent Progress: Pie grew its company channel to greater than 1,000 companions, representing an almost 200% improve for the reason that starting of 2020.
- Continued Innovation: Pie is powered by progressive expertise and complicated analytics. In August, the corporate launched its accomplice portal, which makes it simpler for accomplice brokers to submit their shoppers for protection and observe their standing in actual time, and new options, like automated bind requests, that enable accomplice brokers to submit requests to bind on eligible submissions.
- Pie-oneer Enlargement: Even within the present financial atmosphere, Pie Insurance coverage grew its headcount by 25% in 2020 and continues to rent throughout firm departments.